ABLE Account

What is it?

ABLE (Achieving a Better Life Experience) Account is a savings program for people with disabilities. It is managed by the Tennessee Department of Treasury. Your account is made in your name. You can save your money and use it to pay for things you need related to your disability like:

  • education
  • housing
  • transportation
  • personal support services
  • assistive technology
  • employment

ABLE accounts can also cover many other expenses, as long as they are related to your disability.

Most Importantly: There is no impact on federal means-tested benefits (such as Medicaid and Social Security) as long as your ABLE TN account balance is less than $100,000. Funds in excess of $100,000 will be treated as a resource.

In order to get an ABLE Account, two things must be true:

  1. You must have been diagnosed with a disability before you turned 26 years old, and
  2. You must meet one of the below options.
  • You are eligible to receive Supplemental Security Income (SSI);
  • You are eligible to receive Social Security Disability Insurance (SSDI); or
  • A qualifying physician has diagnosed you as having a physical or mental disability resulting in marked and severe functional limitations that is expected to last no less than 12 months.

How do I learn more?

Learn More:
The Arc of United States Center for Future PlanningAn Overview of ABLE Accounts
ABLE_Account-VS SNT Arc US flyer.pdf
How Death Affects the Money Left in ABLE Accounts and Special Needs Trusts

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