The Pennsylvania ABLE Savings Program is offered through the National ABLE Alliance. The program is a tax-advantaged savings program offered by the Commonwealth of Pennsylvania to assist individuals with disabilities and their families in saving for disability-related expenses without jeopardizing their government benefits.
- Program typeABLE Savings plan
- Investment ManagerUnderlying mutual funds at ETFs provided by BlackRock, Schwab, and Vanguard. The high yield savings account is provided by Sallie Mae. The checking account option is provided by Fifth Third Bank.
- State agencyPA Treasury
- Program ManagerAscensus
State residency requirements:
Who can be a participant/owner in the program?
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The plan can be used to pay for qualified disability expenses.
This can include education, job training and support, healthcare and financial management.
Savings in an ABLE account will not impact eligibility to receive government benefits.
The first $100,000 is exempt from the Supplemental Security Income limit, and beneficiaries will continue to receive Medicaid regardless of account size.
Residents are not limited to investing in their own state's ABLE plan.
Another state may offer a plan with better suited investment options, lower fees or preferred features.
Visit this plan's website to learn more