AZ ABLE - Achieving a Better Life Experience

Overview

Achieving a Better Life Experience (ABLE) accounts allow people with disabilities to save money in a tax-exempt account for disability-related expenses.

Contributions can be made by:

• People with disabilities
• Family members
• Friends
• Others

The AZ ABLE website has more details about:

• Who is eligible
• Investment options
• Program details

For questions or inquiries regarding AZ ABLE presentations, please email [email protected].

Benefits of Opening an AZ ABLE Account

• Money saved does not affect SNAP
• Money saved does not affect Arizona Health Care Cost Containment System (AHCCCS) Medicaid
• SSI is only affected if the account balance goes over $100,000
• Gives people with disabilities more financial freedom
• The account is owned by the person with the disabilityy
• Greatly increases the ability to save money
• Before ABLE, people with disabilities could usually only save about $2,000 without risking benefits
• Offers new investment options
• Earnings grow tax-free
• Arizona residents may deduct contributions on their state taxes:
  
  • Up to $2,000 per person
  • Up to $4,000 for married couples filing jointly

How Can You Spend Saved Money?

Money in an ABLE account must be used for Qualified Disability Expenses.

This means the expense:

• Is related to the person's disability, and
• Helps maintain or improve health, independence, or quality of life.

Examples of Qualified Disability Expenses

• Housing and Rent
• Basic Living Expenses
• Medical/Financial/Legal Bills
• Education
• Transportation
• Assistive Technology
• Other

Enrollment Overview

• Enrollment is online and convenient
• It is free to open an account
• Takes about 20 minutes
• A $25 minimum deposit is required to open the account

The account can be opened by:

• The person with the disability (called the Beneficiary), or
• An Authorized Legal Representative (ALR)

An ALR may be:

• A parent
• A guardian or conservator
• A person with power of attorney
• A spouse
• A grandparent
• A sibling
• A representative payee

Enroll in the AZ ABLE Program

Resources

• Arizona Achieving a Better Life Experience (ABLE) Act Oversight Committee
• ABLE National Resource Center
• ABLE Today