This is eye-opening, Teri. I knew nothing about this. Ironically, I became fully disabled at age 46, just three weeks before age 47. Can you elaborate on something I also don’t know: what is the rule regarding income or savings that triggered the need for these ABLE accounts? I am still in the SSDI appeal process so it may not be relevant if I ultimately lose, but who knows. Thank you for sharing your knowledge. Your outrage seems justified (that the government created a savings mechanism for things it should pay for itself but may not).
So, I want to stress again that anyone pursuing one of these accounts should get professional advice and/or do their own research. In my case, since I was born with my primary disability, and because I have never received SSI or SSDI, my thought process about opening one of these accounts was pretty simple.
For eligibility, the CalAble website says:
Be blind or have a medically determinable physical or mental impairment that results in
marked and severe functional limitations, and such condition developed before the age of 26
and will last, or has lasted, at least a year;
Be a U.S. citizen; and
Confirm one of the following:
Are eligible for Supplemental Security Income (SSI) or Social Security Disability Insurance
(SSDI) because of a disability;
Experience blindness as determined by the Social Security Act; or
Can provide a signed diagnosis from a licensed physician if requested.
Text like this is very literal in some respects. For example, BEFORE the age of 26 (or 46) means that if you have turned 26 (or 46) before you became disabled, you cannot be eligible--unless you want to fight it; I think this would be a losing battle.
Also, it doesn't specify "fully" or "completely" disabled. My interpretation is that they mean a severe disability that substantially limits one or more major life functions. So if someone had a diagnosis or diagnoses that indicated that level of limitation, before the age of 25 (or 46) that would be the date(s) to look at.
You've got until January 1, 2026 to figure this out and do research, if you are over 25.
This is eye-opening, Teri. I knew nothing about this. Ironically, I became fully disabled at age 46, just three weeks before age 47. Can you elaborate on something I also don’t know: what is the rule regarding income or savings that triggered the need for these ABLE accounts? I am still in the SSDI appeal process so it may not be relevant if I ultimately lose, but who knows. Thank you for sharing your knowledge. Your outrage seems justified (that the government created a savings mechanism for things it should pay for itself but may not).
So, I want to stress again that anyone pursuing one of these accounts should get professional advice and/or do their own research. In my case, since I was born with my primary disability, and because I have never received SSI or SSDI, my thought process about opening one of these accounts was pretty simple.
For eligibility, the CalAble website says:
Be blind or have a medically determinable physical or mental impairment that results in
marked and severe functional limitations, and such condition developed before the age of 26
and will last, or has lasted, at least a year;
Be a U.S. citizen; and
Confirm one of the following:
Are eligible for Supplemental Security Income (SSI) or Social Security Disability Insurance
(SSDI) because of a disability;
Experience blindness as determined by the Social Security Act; or
Can provide a signed diagnosis from a licensed physician if requested.
Text like this is very literal in some respects. For example, BEFORE the age of 26 (or 46) means that if you have turned 26 (or 46) before you became disabled, you cannot be eligible--unless you want to fight it; I think this would be a losing battle.
Also, it doesn't specify "fully" or "completely" disabled. My interpretation is that they mean a severe disability that substantially limits one or more major life functions. So if someone had a diagnosis or diagnoses that indicated that level of limitation, before the age of 25 (or 46) that would be the date(s) to look at.
You've got until January 1, 2026 to figure this out and do research, if you are over 25.
Thank you for taking the time to explain all of this. The part about “before age X” is important and would seem to rule me out.