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ABLE Program Account

Money deposited into or withdrawn from a qualified Oklahoma Achieving a Better Life Experience (ABLE) Program account or an ABLE account from any other state is excluded as income when the client:

  • Provides documents that verifies the account meets ABLE criteria
  • Verifies money deposited in the account doesn't exceed the annual federal gift tax exclusion (the amount is $15,000 for 2018)
    • Any amount deposited in the calendar year in excess of this is considered countable income
  • Verifies withdrawals from the account are used to pay qualified disability expenses
    • Money used otherwise is considered countable income for the month of withdrawal

The Oklahoma State Treasurer is responsible for the ABLE Program account.  Rules regarding an ABLE account include:

  • Only persons whose disability was established before age 26 can establish an account and one account is allowed per person
  • No limit to the number of people who can contribute to the account
  • Upon death of the account holder – every dollar remaining in the account must be paid to the state Medicaid agency to repay costs of care received during their life
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