ABLE Account Advantages and Benefits for Eligible Virginians

Since ABLEnow and ABLEAmerica are Virginia-sponsored ABLE savings programs, there are unique advantages for eligible Virginians.

Although these accounts are available to eligible individuals in any state, ABLEnow offers additional perks for Virginians.

State tax advantages

Contributions to an ABLEnow or ABLEAmerica account could qualify for a Virginia state income tax deduction of up to $2,000 per contributor. Plus, earnings on investments grow free from state and federal taxes and are never taxed when used for qualified disability expenses.

Disability benefits

Generally, funds in an ABLEnow account are disregarded when determining eligibility for certain federal benefits as well as state benefits provided by the Commonwealth of Virginia. Learn more about the impact of ABLE accounts on disability benefits.

Medicaid recovery

Unless required by federal law, the Virginia Department of Medical Assistance Services may not pursue Medicaid recovery claims against the ABLEnow or ABLEAmerica accounts of Virginia residents.