ABLE Basics

Thomas P. DiNapoli,
State Comptroller

Save tax-free for many daily living expenses.

More independence, greater financial security, and a better quality of life – that’s the future NY ABLE wants to help achieve for our state’s individuals with disabilities.

NY ABLE helps those with disabilities to:

Keep Medicaid, SSI and other government benefits and save for disability-related expenses on a tax-free basis.

Keep Medicaid, SSI and other government benefits and save for disability-related expenses on a tax-free basis.

How does NY ABLE work?

NY ABLE works by allowing you to: Save tax free. Earnings are tax-deferred and tax-free, if used for qualified disability expenses; Keep your current benefits. Balances under $100,000 are excluded from the SSI resource limit. (Medicaid eligibility continues, regardless of balance.) Note: If the NY ABLE account balance causes the SSI resource limit to be exceeded, then SSI benefits will be suspended until the account balance no longer exceeds the resource limit; Choose your investment option. NY ABLE has savings options for both your short- and long-term needs. These include four investment options ranging from Aggressive to Conservative, as well as an FDIC-Insured checking option that provides for convenient withdrawals using a debit card or check; Access your savings how you prefer: Visit nyable.org; Call 1-855-5NY-ABLE; Print and mail forms; Use a NY ABLE debit card or check (Checking Option only).

NY ABLE works by allowing you to: Save tax free. Earnings are tax-deferred and tax-free, if used for qualified disability expenses; Keep your current benefits. Balances under $100,000 are excluded from the SSI resource limit. (Medicaid eligibility continues, regardless of balance.) Note: If the NY ABLE account balance causes the SSI resource limit to be exceeded, then SSI benefits will be suspended until the account balance no longer exceeds the resource limit; Choose your investment option. NY ABLE has savings options for both your short- and long-term needs. These include four investment options ranging from Aggressive to Conservative, as well as an FDIC-Insured checking option that provides for convenient withdrawals using a debit card or check; Access your savings how you prefer: Visit nyable.org; Call 1-855-5NY-ABLE; Print and mail forms; Use a NY ABLE debit card or check (Checking Option only).