North Carolina ABLE Accounts

153 East Bellevue Drive,High Point NC 27265

07 March, 2023

Description

Save with special tax advantages. The earnings on your investments are federally tax-deferred and tax-free, if used for qualified disability expenses.1 That can help your savings compound, earning returns on your returns. Maintain your current benefits. Balances of $100,000 or less are excluded from your SSI resource limit. Only the amount OVER $100,000 is counted against your limit, along with assets held in non-ABLE accounts. If your account causes you to exceed the SSI resource limit, then your SSI benefits will be suspended until the account balance no longer exceeds your resource limit.2 You'll continue to be eligible for Medicaid, regardless of your account balance.3 Open an account in minutes. Just tell us a little bit about yourself and select your investments. That's it. You can easily access your account at any time, from a PC, tablet, or mobile device. Plus, you can get started with as little as $25.