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Enjoy more independence and save for your future

More independence, greater financial security and quality of life – that’s the future the Alabama ABLE Savings Plan wants to help build.

An ABLE account is a way to save for eligible disability-related expenses. If you’re receiving Supplemental Security Income (SSI), you can have up to $100,000 in an ABLE account without it counting towards the $2,000 asset limit.

Discover the new Alabama ABLE Savings Plan  

The Savings Board is excited to offer Alabamians a new ABLE Program, and the only official ABLE program for the State of Alabama. The Alabama Savings Plan offers great benefits and new features to help you save, and more!

You’ll soon notice just how easy the Alabama ABLE platform makes saving and investing in your Alabama ABLE Savings Plan account. The account management interface is designed to be ADA Accessibility compliant and is incredibly easy to follow. Our savings platform also allows you to set a savings goal to help you monitor your progress and stay on track.

Watch the Savings Add Up

With Alabama ABLE, you can contribute up to $18,000 per year (or more if the beneficiary is working) for a wide range of qualified disability expenses and the account’s growth is tax-free.

Best of all, you can make contributions up to a maximum account value of $475,000 over the life of the account, and save up to $100,000 before impacting Supplemental Security Income (SSI) limits for cash benefits. Other federal means-tested benefits such as Medicaid, housing and food assistance are not impacted by the balance of your ABLE account. Similarly, ABLE account balances are disregarded for the purpose of determining eligibility to receive, or the amount of, any assistance or benefits from Alabama means-tested programs.

Learn about the benefits of an Alabama ABLE account

Not sure if you qualify?

Alabama ABLE accounts are a new way to help individuals with disabilities save money and pay for qualified disability-related expenses without jeopardizing state or federal means-tested benefits such as SSI or Medicaid. See if you qualify today. 

Take the quiz

Take advantage of new tax incentives

For Alabama taxpayers, contributions to your account could qualify for an income deduction. In addition, for Alabama state income tax purposes, a deduction is allowed up to $5,000 per taxpayer per year for contributions. This deduction is increased up to $10,000 for married taxpayers filing a joint return where both taxpayers make such contributions. The deduction may include monies rolled over/transferred from another ABLE account.

Want to join the Alabama ABLE Savings Plan by rolling over your existing ABLE account?

If you’re interested in transferring an existing ABLE account (e.g. your Enable Savings Plan Alabama account), you just need to fill out an ABLE to ABLE Rollover Form to get started. Keep in mind that you can only make one rollover every 12 months. An ABLE account can also be rolled over to an eligible member of the family upon the death of the original beneficiary who opened the account, provided a successor beneficiary was named prior to the designated beneficiary’s death.

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Create a custom gifting page

You can create a unique gifting page that can be privately sent to friends and family to help you reach your savings goal. You can also easily share it on social media to help spread the word and grow your savings. It’s the gift that keeps on giving! Best of all, contributions can be made for as little as $5, so it’s easy to get started. Just sign in to your account, click on “Overview” and then click on the “Create a Gifting Page” link. You’ll be able to customize your page with an optional savings goal and decide how you would like the gifted funds to be invested.

Learn about the benefits of Alabama ABLE Account