Frequently Asked Questions
Will an ABLE account affect my SSI benefits?
ABLE accounts are designed to help eligible individuals save while maintaining their public benefits. The first $100,000 in an ABLE account is not counted toward the Supplemental Security Income (SSI) resource limit.
If an ABLE account balance exceeds $100,000, the amount over $100,000 is counted as a resource for SSI purposes. If that pushes the account holder over the SSI resource limit, SSI cash benefits may be suspended until the balance falls back within the limit, but eligibility is not terminated and Medicaid coverage continues.
A few additional rules apply to withdrawals. Funds withdrawn for housing expenses should be spent within the same calendar month to avoid being counted as a resource. Funds withdrawn for non-qualified expenses may also be counted as a resource.
You can learn more here.
