Good news for Californians and residents nationwide relying on disability benefits: ABLE accounts are helping individuals save money without risking their Supplemental Security Income (SSI) or Medicaid coverage. Established under a 2014 federal law, ABLE (Achieving a Better Life Experience) accounts allow eligible users to save up to $100,000 without impacting SSI eligibility, with some states permitting lifetime caps as high as $500,000.
Currently, eligibility is limited to those diagnosed with a qualifying disability before age 26. However, starting in 2026, the age cutoff will increase to 46, potentially benefiting approximately 6 million more Americans, including about 1 million veterans.
California residents can now contribute up to $19,000 per year, with additional contributions allowed depending on employment status.
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