FAQs

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Does having an account affect my other benefits?
No. You can open and maintain a STABLE account while keeping your federal and state benefits (SSI, SSDI, Medicaid, SNAP, TANF, HUD Assistance, Section 8, etc.) with a STABLE account. If you receive SSI, there is a $100,000 limit before funds start counting against your $2,000 asset limit. As long... Read more
What kind of benefits do I get?
One of the main benefits of having a STABLE account is being able to save for eligible expenses and invest for the future in a tax-advantaged account. The account’s growth is tax-free and you may qualify for a state income tax deduction, depending on where you live. If you’re an Ohio resident or... Read more
How do I prove my eligibility?

You will be asked a series of questions when opening your account. Although you will not need to produce a copy of your diagnosis in order to open an account, you must have a record of the diagnosis available.

Do I have to be a resident of Ohio to open a STABLE account?

Nope. Residents from any state may open a STABLE account.

How much does it cost to open an account?

There is no fee to open an account. However, you’ll need to make an initial transfer of at least $25 to get started and a $1 minimum for any contribution or withdrawal after that. To help keep the lights running, there are some minimal fees that apply to all accounts.

Who controls the funds in a STABLE account?
The Eligible Individual is considered to be the account owner. However, anyone who has Power of Attorney, a conservator or legal guardian, a spouse, parent, sibling, grandparent, or a representative payee (individual or organization), in that priority, can act as an Authorized Legal Representative... Read more
What happens if the beneficiary is no longer eligible for an account?
If a beneficiary no longer meets eligibility requirements, they no longer qualify to get a STABLE account and they (or their account manager) should sign in to the account’s settings and update their eligibility. Their account will remain open, and they can continue to use the account. However,... Read more
Who can open a STABLE account for an eligible beneficiary?
An adult beneficiary with a qualifying disability can open and manage a STABLE account.  If a beneficiary is under the age of 18 or unable to open an account on their own, they must have an Authorized Legal Representative (also known as an ALR) do it for them. An ALR must be anyone who is selected... Read more
Can a Social Security Representative Payee open an account for a beneficiary?
If you’re an eligible beneficiary with a Representative Payee, you can open an account for yourself. If you have legal capacity, you may select a Representative Payee to open and manage an account for you. Otherwise, to have a Representative Payee open and manage an account for you, they must... Read more