Are contributions to an Oregon ABLE account considered to be an asset?
The money in an Oregon ABLE account is not considered to be an asset for state and federal benefit purposes. This includes SSI, Medicaid, HUD housing assistance, SNAP, FAFSA applications, and more.
For Supplemental Security Income (SSI) benefits only, you can have up to $100,000 in the Oregon ABLE account before the funds start to count against the $2,000 asset limit. If you choose to go over the $100,000 limit, your SSI benefits will be suspended, but you’ll still be eligible for all other benefits (such as Medicaid). Once your balance drops below the limit, your SSI benefits will resume as normal. For all other benefits, you can save up to the $400,000 maximum limit.
