FAQs
Answers at your fingertips
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- About ABLE
- 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
- What is the Cash Option?
- The Cash Option is a conservative alternative to investing. It is most similar to a savings account that you would find at a local bank or credit union. Your assets (up to $250,000) are protected in an FDIC-insured account, which means the federal government guarantees you will not lose the money... Read more
- Can I connect more than one bank account or type of account?
- Yes, you can connect more than one bank account as well as multiple types of bank accounts. Each account and type will need to be connected individually, but you can have both savings and checking accounts linked to your account at one time. The Account Owner/Custodian or Beneficiary must own the... Read more
- Could saving for retirement impact my benefits?
- The short answer is, yes. Oregon workers may choose to invest in both an ABLE savings account and a separate retirement savings account, but ABLE accounts were designed to have unique protections not found with other types of savings and investment accounts. The money saved in an ABLE account is... Read more
- 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
- 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
- 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
- How will transfers show up in my bank account?
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All types of transfers usually take between 2-7 business days to complete and will appear as Vestwel on your bank account statements.
- Is there a mobile app for Oregon ABLE?
- If you already have an Oregon ABLE account, you can download the Vestwell app for iOS or Android and take your account with you on the go. You can make contributions, withdraw funds, share gifting pages, and more. Download the app today, log in using your Oregon ABLE username and password, and then... Read more
