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NJ ACHIEVING A BETTER LIFE EXPERIENCE (NJ ABLE)

Enacted December 19, 2014, Public Law 113–295, also known as The Stephen Beck, Jr., Achieving a Better Life Experience Act (ABLE Act), added Section 529A to the federal tax code.

With NJ ABLE, qualified individuals with disabilities can save for disability related expenses in tax advantaged savings accounts without losing eligibility for certain assistance programs like Supplemental Security Income (SSI) and Medicaid.

Allowable expenses are not limited to medical necessity and can include: education, housing, transportation, personal support services, and more.  The funds in these accounts are intended to supplement not supplant, government benefits. 

The individual with the disability is the account owner, but anyone can contribute to the account.

Interest income earned by the account is not taxed.  Balances of $100,000 or less are excluded from the SSI resource limit. If the account holders’ balance exceeds $100,000, the SSI cash benefit will be suspended, but they will continue to be eligible for Medicaid, allowing them to continue receiving the important services needed to remain living independently.

NJ ABLE is administered through DDS in partnership with the contracted program manager, Ascensus College Savings Recordkeeping Services.  DDS is available to host NJ ABLE presentations at your request.

To schedule an NJ ABLE presentation or to request brochures, please contact us at 1-888-285-3036. 

 

ELIGIBILITY

To be eligible to open an NJ ABLE account, individuals must meet the following two requirements: 

  1. Their disability was present before age 26; and
  2. One of the following is true:
    • they are eligible for SSI or SSDI because of a disability OR
    • they experience blindness as determined by the Social Security Act  OR
    • they have a similarly severe disability with a written diagnosis from a licensed physician.
 
 
APPLY ONLINE

Visit savewithable.com to open an account and begin saving!

 
 
FREQUENTLY ASKED QUESTIONS

What happens upon the death of the designated beneficiary of an ABLE account and who must be notified?

Upon the death of the designated beneficiary of an ABLE account, the State of New Jersey, Division of Medical Assistance and Health Services (DMAHS) is a creditor entitled to recover amounts remaining in the ABLE account up to an amount equal to the total medical assistance paid for the designated beneficiary after the establishment of the account, net of any premiums paid from the account or paid by or on behalf of the beneficiary to a Medicaid Buy-In program under any state Medicaid plan established under title XIX of the Social Security Act.  

Notification of the death of the designated beneficiary of an ABLE account should be directed to the DMAHS Beneficiary Administration Action Unit (BAAU) at the address/phone number highlighted in boldface below: 

DMAHS Beneficiary Administrative Action Unit
Mail Code 5
PO Box 712,
Trenton, NJ 08625-0712
609-588-3075 or 3089 

For additional information see also the DMAHS website at: https://www.nj.gov/humanservices/dmahs/home/index.html 

Notification of any changes to the account and or about the death of the designated beneficiary of an ABLE account must also be sent to NJ ABLE at: 

NJ ABLE 
P.O. Box 219289
Kansas City, MO 64121
1-888-609-8869 
E-mail: nj.clientservice@savewithable.com 

 
 
RELATED LINKS

More information on ABLE accounts can be found on the following pages: 

 
 
KEY STAFF

Ursula Baker, I & R Services Supervisor

 
 
 
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