What are the benefits of an Oregon ABLE account?

The Oregon ABLE Savings Plan offers a way to save for qualified expenses, invest for the future and keep the benefits you rely on every day.

When you make contributions to an Oregon ABLE account, your money has the chance to grow and earn interest, tax-free. And unlike many other investment options, when you withdraw your savings to use for qualified expenses, you can spend it tax-free too. And, if you live in Oregon, any contribution you make to an account makes you eligible for the state’s income tax credit, worth $180 for single filers or $360 for joint filers. You do not need to be the owner of the account to contribute and claim the tax credit (that includes people who send funds through a gifting page).

If a beneficiary is working, they can save an extra amount through ABLE to Work. You can also load your ABLE Visa® Prepaid Card with money from your account and use it for eligible expenses whenever and wherever you want.

Finally, managing the account is a snap with access to a simple and intuitive online platform.