Hawai‘i ABLE Savings Program
What are ABLE accounts?
The Achieving a Better Life Experience (ABLE) Act of 2014 allows states to create tax-advantaged savings programs for eligible people with disabilities (designated beneficiaries). Funds from these 529A ABLE accounts can help designated beneficiaries pay for qualified disability expenses. Distributions from ABLE accounts are tax-free if used for qualified disability expenses. ABLE accounts allow people with qualifying disabilities to save money without losing their state and federal benefits. Money saved in ABLE accounts does not count against asset limits in some federal programs, for example for Supplemental Security Income (SSI) and Medicaid.
The Hawai’i ABLE Savings Program provides people with disabilities with the tools they need to achieve financial empowerment and prepare for a more independent and secure future. For too long, people with disabilities couldn’t save for the future out of fear of losing government benefits. The Hawai‘i ABLE Savings Program is a way to save for qualified expenses, invest for the future and keep the benefits you rely on every day.
Learn more by viewing the presentation below. You can also access the presentation slides (PDF).
Hawaiʻi ABLE Savings Program Webinars
Please sign up for a Hawai‘i ABLE Savings Program Webinar by clicking on a link below. Hawai‘i ABLE Webinars are held the last Wednesday of each month from 12-1 PM (HST).