FAQs
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- ALR
- Benefits
- Contributions
- Eligibility
- Fees
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Info
- How does the account work?
- Everything can be managed online. The money can be saved in a cash option and/or invested in one of the three investment options offered: ABLE Conservative, ABLE Moderate, and ABLE Aggressive. These choices are made during the account setup. By law, you can make investment changes on your account... Read more
- How do I open an account?
- It takes only 10 minutes to open an account online. You (or your Authorized Legal Representative) will need to have some basic information handy. Once you’ve been verified, you’ll set up the account details by: Creating a login; Connecting a bank account; and then Selecting the Cash Option... Read more
- How do I know if I’m an Authorized Legal Representative (ALR)?
- An Authorized Legal Representative (ALR) is someone who is legally authorized under state and federal law to make decisions for the beneficiary. You’re an ALR if you are selected by the eligible beneficiary with legal capacity, you have Power of Attorney, are a conservator or legal guardian, are a... Read more
- What do I need to open an account?
- Make sure you have this information handy: Your email; Your birthday; Social Security Number or Tax Identification Number; and Contact details. If you’re an Authorized Legal Representative, you’ll need the same information as the beneficiary’s, plus your work status and either guardianship,... Read more
- Am I eligible for an ABLE account?
- You are eligible for an account if you meet both of these criteria: Your disability impacts you enough that it meets the disability criteria for Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI); AND This disability developed before your 26th birthday. If you do... Read more
- What happens if I withdraw money for a non-eligible expense?
- You do not need to have your expenses approved in advance. Eligible expenses include anything that improves or maintains the health, independence, or quality of life of the person with a disability. The federal government acknowledges that each of us has different needs and an idea of what a good... Read more
- What if I move outside the state?
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Good news: You can keep your Oregon ABLE Savings Plan account if you move out of the state. You can also roll over the account (once every 12 months) to a different state plan or a national plan, like the ABLE for ALL Savings Plan, or to an eligible “Member of the Family.”
- Is there a minimum to open an account?
- You have to add at least $25 to get the account started. After that, you can add as little as $10 at any time. Money can be added to the cash option and/or invested. If you decide to make an investment, at least 10% of your total funds need to be invested in one of the three investment options:... Read more
- Who can have an account?
- You are eligible for an account if you meet both of these criteria: Your disability impacts you enough that it meets the disability criteria for Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI); AND This disability developed before your 26th birthday. If you do... Read more
- How do I prove an eligible expense?
- You do not need to have your expenses approved in advance. Eligible expenses include anything that improves or maintains the health, independence, or quality of life of the person with a disability. The federal government acknowledges that each of us have different needs and an idea of what a good... Read more
