Start a CalABLE Account

What is a CalABLE account?

CalABLE is a savings and investment plan that helps you save towards disability-related expenses without the risk of losing your public benefits. Eligible people can save up to $18,000 a year without affecting their public disability benefits. This money can be used towards disability-related expenses, including: rent, mortgage payments, education, property taxes, home improvements, health and wellness, transportation and much more!

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How is it Different From a Typical Savings Account?

Money in a typical savings account is taken into account when applying for public benefits like state disability. A CalABLE account allows you to save money for your future without the risk of losing benefits like SSI (Supplemental Security Income) and Medicaid. Please see this helpful guide from the Centers for Medicare & Medicaid Services.

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CalABLE Perks

When you open a CalABLE account, you won’t lose your state or federal disability or Medicaid benefits. Your CalABLE account can help you supplement your current benefits with a way to save for qualified expenses. You can save and invest tax-free. CalABLE investment earnings are not taxable and do not count as income for means-tested benefit programs. Learn more about the benefits of CalABLE here.

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Ready to Open an Account?

Visit CalABLE to see if you qualify and get started today!

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Knowledge Check

Let's do a quick knowledge check on CalABLE accounts!

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