What is MO ABLE?

• A MO ABLE account is an investment account that allows qualified individuals with disabilities to save and invest money without losing eligibility for certain public benefit programs, like Medicaid or SSI.

• MO ABLE accounts are made possible by the federal Achieving a Better Life Experience “ABLE” Act passed by Congress in 2014. MO ABLE launched April 24, 2017.

• MO ABLE accounts are similar to a 529 college savings account or 401(k) retirement plan and can work alongside Special Needs Trusts. They can also function like a regular checking account.

What are the Benefits?

• MO ABLE accounts provide financial independence and empowerment for individuals with disabilities by dramatically increasing the ability to save and invest.

• Before, individuals with disabilities could only save $2,000 before losing needs-based benefits.

• Now, MO ABLE allows individuals with disabilities to save and invest up to $15,000 annually without affecting eligibility for certain public benefits programs.

• MO ABLE account funds can be used on Qualified Disability Expenses including: education, housing, transportation, healthcare, assistive technology, employment needs and basic living expenses.

Who is Eligible?

• An “Eligible Individual” is someone whose disability began before the age of 26, has been living with their disability for at least one year, or expects their disability to last for at least a year.

• An individual must also do one of the following: 1. Be eligible for SSI or SSDI; 2. Have a condition listed on the Social Security Administration’s List of Compassionate Allowances Conditions; or 3. Self-Certify their diagnosis.

• Visit moable.com/eligibility/ to take the quick and easy eligibility quiz to learn more.

What is the STABLE Card?

• The STABLE Card is a debit card participants can use to easily spend money from a MO ABLE account. It is available at no cost to all MO ABLE account holders!

• The STABLE Card is a loadable prepaid debit card. It does not pull money directly from a STABLE Account to better protect spending. The card is accepted anywhere Visa is used.

For more information on Missouri ABLE Accounts, including how to enroll, tax benefits, & investment options, click on the link below:

MO-ABLE-PPT

Source: moable.com