ABLE Accounts and Ohio’s STABLE Account
ABLE accounts are tax-advantaged savings accounts for individuals with disabilities and their families. The money in these accounts can be saved and used by the individual for many purposes while maintaining the individual’s benefits (such as Medicaid).
In Ohio, these accounts are called STABLE accounts. Ohio House Bill 155 implemented the federal ABLE Act in Ohio. The Office of the Ohio Treasurer administers the STABLE Account program. A STABLE account is a way to save for qualified expenses, invest for future needs, and keep the benefits you rely on every day.