The ABLE Act
For too long, people with disabilities could not save for the future out of fear of losing their benefits. Advocates fought hard to change this, resulting in the federal ABLE Act and the ABLEnow program.
ABLEnow accounts are made possible by the Stephen Beck, Jr., Achieving a Better Life Experience (ABLE) Act of 2014, considered the most significant federal legislation to address needs of persons with disabilities since the Americans with Disabilities Act. The ABLE Act authorized states to establish tax-advantaged savings programs for individuals with disabilities, aimed at relieving certain financial obstacles and recognizing the extra and significant costs of living with a disability.
The ABLE National Resource Center offers additional background on the ABLE Act and the significance of ABLE accounts to the disability community.
ABLEnow: A Leading ABLE Program
Although it’s offered by the Commonwealth of Virginia, ABLEnow is a national ABLE program. This means that all eligible individuals are free to start their ABLE savings with ABLEnow. Today, there are ABLEnow accounts in all 50 states.
Virginia was the very first U.S. state to pass ABLE legislation after the federal ABLE statute was passed by Congress. The ABLEnow program opened for national enrollment in December 2016.
Because ABLEnow is the Virginia-sponsored ABLE savings program, there are unique advantages for Virginians. Please visit our Benefits for Virginians page for more information.
ABLEnow is administered by Virginia529, an independent state agency of the Commonwealth of Virginia that manages the nation’s largest college savings plan. Adhering to the same high standards that have built and strengthened that successful program, Virginia529 is dedicated to establishing ABLEnow as a recognized leader in meeting the unique financial needs of people with disabilities.
More information about Virginia529 is available on the agency’s website.
