ABLE Accounts Powered by Vestwell: A Smarter Way to Save for the Future

Saving money shouldn’t come with trade-offs. But for many individuals with qualifying medical conditions, it has.

ABLE (Achieving a Better Life Experience) accounts were created to change that, offering a way to build savings without putting essential benefits at risk.

These tax-advantaged accounts help individuals grow their savings while maintaining access to programs like Supplemental Security Income (SSI), a federal benefit that provides monthly financial support, and Medicaid. They offer a flexible way to save, spend, and plan for both everyday needs and long-term goals.

Vestwell supports ABLE programs across the country, helping make these accounts more accessible, easier to use, and better aligned with how people manage money today. In this guide, we’ll cover how ABLE accounts work, their benefits, and what makes Vestwell-powered programs different.

What Is an ABLE Account?

An ABLE account is a tax-advantaged account for individuals with qualifying health conditions that began before age 46. These accounts allow individuals and their families to save money for qualified expenses—like housing, transportation, education, and healthcare—without affecting eligibility for certain public benefits.

Who Is Eligible?

You can open an ABLE account if you meet one of the following circumstances:

1. You are currently entitled to SSI or SSDI because of your disability, or
2. You have a condition that is:
   • Expected to last 12 months or longer, or result in death, and
   • Causes a marked and severe functional limitation, and
   • Has been diagnosed by a licensed doctor
3. You have a condition on the Social Security Administration’s List of Compassionate Allowances Conditions.

The law focuses on how a condition impacts daily life, rather than listing every diagnosis. Some examples include autism, ADHD, Down syndrome, cerebral palsy, epilepsy, significant vision or hearing loss, muscular dystrophy, certain cancers, immune disorders, and mental health or medical conditions that make work or daily activities more difficult.

Why Open an ABLE Account?

ABLE accounts are designed to support both independence and long-term financial stability. Key benefits of opening an ABLE account include:

• Tax advantages, including tax-free growth on earnings
• The ability to save beyond traditional asset limits for public benefits
• Flexible use of funds for a wide range of qualified expenses
• Greater financial independence and control

Learn more about how ABLE accounts work with SSI, SSDI, Medicaid, and more here.

Why So Many States Trust Vestwell to Power Their ABLE Programs

With dozens of ABLE programs available across the country, it’s important to choose one backed by experience, reliability, and a strong focus on the people it serves.

Vestwell powers more ABLE accounts nationwide today than any other provider, working with some of the largest and most established programs in the country, including:

• ABLE for ALL
• ABLE United
• Alabama ABLE Savings Plan
• CalABLE
• Hawai’i ABLE Savings Plan
• Maryland ABLE
• Oregon ABLE Savings Plan
• STABLE Account (a 13-State partnership)
• Washington State ABLE Savings Plan
• Plus, more programs that are transitioning to Vestwell soon

Our approach centers on accessibility at every step, from how accounts are opened to the way they are managed day to day. Behind the modern technology is a team with deep experience across savings, policy, and program administration, focused on continuously improving the experience to better support account owners and their families over time.

“We know ABLE accounts are about more than money—they’re about giving people more control over their future without putting critical benefits at risk. States trust Vestwell because we pair modern, easy-to-use tools with deep experience in public savings programs, so saving and spending feel simple, secure, and well supported for account owners and their families.”

–Matt Golden, SVP, Government Savings Lead

Unique Features of ABLE Accounts Powered by Vestwell

1. Gifting from Friends and Family

Every ABLE account powered by Vestwell includes a built-in gifting page, making it simple for others to contribute. Account owners can share their personalized page and set savings goals or contribution preferences, while friends and family can save their information, track their giving history, and even set up recurring gifts, all in one place.

2. Save How You Want

Managing your account is designed to be simple and flexible. You can access your account in 20 languages, use the mobile app to manage savings on the go, and set personalized goals to track your progress over time.

3. Make Savings Automatic

Saving consistently is easier with tools that help you build habits over time. You can set up recurring contributions, use features like Weather Boosters to grow your balance, or contribute directly from a paycheck or Social Security benefits.

4. Easy to Get Support Managing the Account

While accounts were designed to be managed by the person with a qualifying condition, not every saver does. In some instances, the saver may be under the age of 18, have a disability that makes them unable to manage their account independently, or simply want help. In those cases, the account owner can choose an Authorized Legal Representative (ALR) to manage their account.

Entities and organizations serving as ALRs have a single, modern organizational profile to manage all ABLE accounts they oversee. Organizational ALRs have access to simple tools to search, sort, filter, and generate reports.

5. Prepaid Card

Vestwell partners with True Link to offer a customizable prepaid card that helps protect your funds while giving you flexibility in how you spend. You can set spending limits, block certain types of purchases, receive alerts, and track transactions, along with the option to upload receipts for added visibility. The prepaid card can be used everywhere Visa debit cards are accepted.

6. Security & Reliability

Your savings are backed by institutional-grade security standards, along with trusted custodial support through BNY. The platform is built to provide consistent, reliable account administration and oversight.

7. Dedicated Support & Education

Getting started and staying on track is easier with access to educational resources, dedicated Help Centers, and support in over 200 languages. Tools like eligibility quizzes and 24/7 chatbot assistance help guide you at every step. You can explore more tools and resources in our dedicated ABLE Hub.

How to Find the Right ABLE Account for You

With multiple ABLE programs available, finding the right fit depends on your needs and preferences.

Vestwell’s National ABLE Hub is a great place to start. You can take a quick eligibility quiz, explore available state and national programs, and compare options to find an account that works best for you.

Building a More Secure Future

ABLE accounts offer a practical way to save for the future while maintaining access to important benefits. With flexible features and accessible tools, they’re designed to support greater financial independence over time.

If you want to keep up with the latest ABLE information, sign up to receive updates and newsletters about ABLE accounts and what you need to know.