Changes to the NY ABLE Savings Program

Presentation Description: Hear about significant changes to the NY ABLE Program. The NY Achieving a Better Life Experience (ABLE) Program is a tax-advantaged savings program for individuals with disabilities and their families. The program allows them to save for their current or long term needs while maintaining the ability to benefit from federal benefits programs such as SSI, SSDI and Medicaid. Our program offers multiple investment options including a checking account and debit card option, allowing individuals with disabilities to maintain their independence and have quick and easy access to their own money. In 2022 NY ABLE implemented significant changes which significantly increase the number of people who can open a NY ABLE account. These include the residency requirement going away AND the expanded hierarchy for authorized individuals. Date: 2/22/2023 Presenter: Jenna McClosky, Outreach Coordinator and Administrative Analyst, NY ABLE Savings Program