ABLE Accounts Expanded; How Does That Impact Oregon Families?

More people are now eligible for ABLE Savings accounts; the age limit for the onset of a disability is up from 26 to 46.  Oregon State Treasurer Elizabeth Steiner said these accounts are important for people who receive federal benefits, including Social Security, because of their disability.

"The ABLE program was designed by Congress some years ago to allow people with disabilities to save money and have that not be considered for eligibility for benefits," Steiner said.

People with disabilities can't get the benefit if they have over $2,000 in a regular account.  The higher age limit will help people who become disabled after age 26.

"I just want to urge everybody who thinks they might be eligible to visit OregonABLESavings.com and take a look, because it might give you a new opportunity to save for the future and still protect your eligibility for income based benefits," Steiner said.

Oregon has 10,000 ABLE Savings accounts with more than $130 million saved.

Click Here to learn more about the ABLE Savings account. 

If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail glenn.vaagen@townsquaremedia.com