National Council on Disability celebrates 10 years of ABLE

For Immediate Release

Dec. 19, 2024

WASHINGTON – The National Council on Disability (NCD)—an independent federal agency that advises the President and Congress— today celebrates the 10-year anniversary of an important savings program for people with disabilities.

The Stephen Beck, Jr., Achieving a Better Life Experience Act (ABLE) became law when President Barack Obama signed it on December 19, 2014, as part of the Tax Increase Prevention Act of 2014.

As a result of ABLE, Section 529A tax-exempt savings accounts are available to help designated beneficiaries pay for qualified disability-related expenses, allowing individuals to invest and save up to up to $18,000 a year, or $100,000 total, with an ABLE account without losing federal benefits such as Social Security (SSI) and Medicaid. Those contributions to the accounts may come from earnings, family, friends and other sources.

Since ABLE’s inception, the National Association of State Treasurers has reported over 180,622 tax-advantaged ABLE accounts opened, with accounts totaling approximately $2.03 billion so far to help pay for disability-related expenses.

Over the years, several updates to the program have come through legislation, the latest being the ABLE Age Adjustment Act (Section 124 of Secure 2.0) signed into law December 29, 2022. On Jan. 1, 2026, it extends the age of disability onset for ABLE account eligibility from 26 to 46 years old, expanding access to ABLE accounts for individuals who become disabled later in life. 

Currently 46 states (and the District of Columbia) have ABLE state programs in place that offer ABLE accounts to eligible individuals in their states.

NCD has previously provided support to the program, following assignment by the House Appropriations Committee, as federal interagency coordinator to increase crossflow of information amongst federal, state and nongovernment agencies, and to encourage greater awareness building activities of ABLE accounts. NCD had hosted ABLE information sessions for the public in in Jackson, Mississippi.; Henderson, Nevada.; Humacao, Puerto Rico; and Chicago, Illinois, in conjunction with quarterly meetings of the Council.

More information on ABLE is available through the National Association of State Treasurers’ Able Today website or the ABLE National Resource Center.