FAQs
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- ALR
- Benefits
- Contributions
- Eligibility
- Fees
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Info
- What if I move outside the state?
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Good news: You can keep your Oregon ABLE Savings Plan account if you move out of the state. You can also roll over the account (once every 12 months) to a different state plan or a national plan, like the ABLE for ALL Savings Plan, or to an eligible “Member of the Family.”
- Is there a minimum to open an account?
- You have to add at least $25 to get the account started. After that, you can add as little as $5 at any time. Money can be added to the cash option and/or invested. If you decide to make an investment, at least 10% of your total funds need to be invested in one of the three investment options: ABLE... Read more
- Who can have an account?
- You are eligible for an account if you meet both of these criteria: Your disability impacts you enough that it meets the disability criteria for Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI); AND This disability developed before your 26th birthday. If you do... Read more
- How do I prove an eligible expense?
- You do not need to have your expenses approved in advance. Eligible expenses include anything that improves or maintains the health, independence, or quality of life of the person with a disability. The federal government acknowledges that each of us have different needs and an idea of what a good... Read more
- Will having an account make me ineligible for Medicaid?
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Nope. Having an ABLE account doesn’t count towards your eligibility for Medicaid regardless of the amount saved in the account.
- Can I still work and have an account?
- Yes. With the ABLE to Work Act you can even contribute up to an extra $15,060 to your ABLE account if you are working, in addition to the yearly contribution limit of $19,000. Keep in mind that ABLE accounts help protect assets from counting against benefit asset limits. They do not protect against... Read more
- Can a Social Security Representative Payee open an ABLE account for a beneficiary?
- If you’re an eligible beneficiary with a Representative Payee, you can open an account for yourself. To have a Representative Payee open an account for you, they must meet the requirements of an Authorized Legal Representative (anyone who is selected by the eligible beneficiary with legal capacity,... Read more
- Can I sign up if I live out of state?
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You can enroll in the national ABLE for ALL Savings Plan, which is nationwide. The Oregon ABLE Savings Plan is available only to people living in Oregon with eligible disabilities. You must have a Social Security Number (SSN) or Tax ID Number (TIN) to open an account.
- Who can open an ABLE account for an eligible beneficiary?
- An adult beneficiary with a qualifying disability can open and manage an ABLE account. If a beneficiary is under the age of 18 or unable to open an account on their own, they must have an Authorized Legal Representative (also known as an ALR) do it for them. An ALR must be Power of Attorney, the... Read more
- How will transfers show up in my bank account?
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All types of transfers usually take between 2-7 business days to complete and will appear as Vestwel on your bank account statements.
