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February 20, 2019

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What is a STABLE account?

An investment account available to eligible individuals with disabilities

By Gary Reese
Faith Investment Services,
122 N Main, Bluffton
(419) 358-4207


Looking for a way to bring stability and security to yourself or a family member with disabilities? Ohio’s STABLE accounts may be a good choice for you.  These investment accounts provide long-term investment options for Ohio residents and non-residents. More info can be found at https://www.stableaccount.com/#stable-account

Q: What is a STABLE Account?
A: A STABLE Account is an investment account available to eligible individuals with disabilities. STABLE Accounts are made possible by the federal Achieving a Better Life Experience (“ABLE”) Act. STABLE Accounts allow individuals with disabilities to save and invest money without losing eligibility for certain public benefits programs, like Medicaid, SSI, or SSDI. Earnings in your STABLE Account are not subject to federal income tax, so long as you spend them on “Qualified Disability Expenses” (see below). 

Q: Are STABLE Accounts like my bank checking or savings account?
A: STABLE Accounts have some similar features, but they are not checking or savings accounts. STABLE Accounts are investment accounts. You will be investing your money in different options we provide. While you can still withdraw and spend your money as-needed, STABLE Accounts also allow you to grow your money and to save long-term for disability expenses.

Q: Who is eligible to open a STABLE Account?
A: The “Eligible Individual” is someone who developed their disability before the age of 26. The individual must have been living with their disability for at least one year, or they must expect their disability to last for at least a year.

In addition, the individual must meet at least one of the following criteria: Be entitled to Supplemental Security Income (SSI) because of their disability; Be entitled to Social Security Disability Insurance (SSDI) because of their disability; Have a condition listed on the Social Security Administration’s List of Compassionate Allowances Conditions; or be able to "self-certify" their disability and diagnosis (see details below) when opening a STABLE Account.