young man with Down syndrome smiling at work in a grocery store

About Us

Paving the way to financial peace of mind

What’s the ABLE Act?

After the Stephen Beck Jr. Achieving a Better Life Experience (ABLE) Act was passed by Congress in December of 2014, people with eligible disabilities could finally save for their everyday needs, invest in a tax-free account, and prepare for the future without losing their state or federal benefits.

Ohio House Bill 155 implemented the federal ABLE Act in Ohio. The Office of the Ohio Treasurer administers the STABLE Account program.

What is a STABLE account?

A STABLE account is an investment account available to eligible individuals with disabilities. STABLE accounts allow you to save and invest money without losing eligibility for certain public benefits programs, like Medicaid or Supplemental Security Income (SSI). Earnings in your STABLE account are not subject to federal income tax, so long as you spend them on qualified disability expenses.

STABLE accounts have some similar features to normal bank accounts, but they are not checking or savings accounts. STABLE accounts are investment accounts, similar to 529 college savings accounts or 401(k) retirement accounts. When you deposit money into your STABLE account, your money will be invested in different options that you choose. While you can still withdraw and spend your money whenever you need it, STABLE accounts also allow you to grow your money and to save long-term for disability expenses.