Benefits

Your benefits are here to stay

When you open an Oregon ABLE account, you won’t lose your state or federal benefits.

An ABLE account offers a way to save for qualified expenses, invest for the future and keep the benefits you rely on every day. 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. If you choose to go over the $100,000 limit, your SSI benefits will be suspended, but you’ll still be eligible for all other benefits (such as Medicaid). Once your balance drops below the limit, your SSI benefits will resume as normal.

Get more of the things you need

The money in the account can be used for a lot of everyday expenses, even housing and rent. Most costs related to living with a disability qualify as an eligible expense.

Save and invest tax free

Both the earnings from your ABLE account and the money withdrawn for eligible expenses are tax free. Any money contributed to the account could qualify for a state income tax credit, which means you’ll have even more saved for the future.

Contribute more with ABLE to Work

If a beneficiary is working, they can save an extra amount through ABLE to Work. The limit for additional ABLE to Work contributions in 2024 is up to $14,580 or the total of their wages, whichever is less.

For example, if a beneficiary makes $30,000, the most they can save as an ABLE to Work Contribution is $14,580 in 2024. If they make $5,000 a year, the most they can save as an ABLE to Work Contribution is $5,000.

Access your funds on the go

With the ABLE Visa^® Prepaid Card, you can easily control your spending. Instead of pulling money directly from your ABLE account, you load the card with exactly how much you’d like to spend.

You can load as much or as little as you need, anytime, up to $20,000. The ABLE Visa Prepaid Card can be used everywhere Visa debit cards are accepted.