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Governor Hogan signed the Achieving a Better Life Experience (ABLE) Act on April 12th establishing this program in Maryland and approving the first steps in building an ABLE program structure. Several states, such as Ohio and Nebraska, have announced the opening of their ABLE programs beginning this summer. Due to differences in legislative and legal frameworks, some states have been able to set up programs in a tighter timeframe. Maryland is working expediently, but also thoughtfully on implementation of ABLE in our state. Additionally, Maryland will watch the early adopters in order to learn "best practices" that can help improve the state's program. Maryland ABLE is projected to be operational in Fall of 2017.
Some programs might be available to out-of-state residents. If people decide to explore out of state options, they will be able to move existing accounts over to Maryland's program once established. Maryland's program will offer tax benefits to Maryland residents.
Read more about states implementing ABLE here:
Sign Up For ABLE Alerts like these
HERE
New ABLE Website from the ABLE National Resource Center
The ABLE National Resource Center (ANRC) launched its website on March 1, 2016. With several state-sponsored ABLE programs preparing to open in the next few months, the ANRC website offers important information targeted toward potential beneficiaries and their families, ABLE program administrators, and financial institutions.
Information provided on the ANRC website include:
- State-by-state ABLE development statuses;
- Side-by-side comparisons of ABLE program characteristics;
- Informational ABLE videos;
- Archived ABLE webinars;
- Published ABLE-related research;
- Summaries of ABLE-related policies, rules, and regulations;
- Frequently asked questions (FAQs);
- An online portal to submit ABLE-related questions;
- and ABLE announcements.
We invite you to visit the ANRC website HERE
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