ABLE are savings accounts to enable people with disabilities to save money without jeopardizing state and Federal means tested benefits (Medicaid, SNAP, TANF, etc), according to those familiar with the program. The program is under the purview of the State Treasurer, who, according to concerned parties, should be promoting the program, but isn’t, and growth is slowing. Major legislation was passed on the federal level two years ago calling for ABLE expansion. Currently, a person can qualify for an ABLE account if the onset of disability was before age 26. Come January 1, that expands to 46. An estimated 6 million additional Americans will qualify and she’s not talked about it.
So, there are people who would likely qualify for the program, but the State Treasurer is apparently not promoting it.
In addition ,if the Trump Administration reduces the number of Medicare and Medicaid recipients, costs are going to skyrocket for people, and without a viable savings plan, they could be in big trouble. People receiving benefits have an asset cap of just $2,000 without ABLE accounts.
There is also concern about possible inaccuracies in the State Treasurer’s calculations concerning ABLE accounts. This information was shared with me:
At the most recent meeting of the Plans Management Board (which oversees ABLE accounts in Delaware), the Treasurer reported 600 funded accounts showing an increase of 81% from the same time last year. However, the number she lists from last year was 502. That’s an increase of just 19.5%.
She also lists assets under management at 7,455,438.85, and calls it an increase of 70.1% over last year’s number of $5,233,773.60 while in reality, it’s an increase of just 42.4%, not 70.1.
Hard to argue with that. Especially since this is the cut-and-paste from the Treasurer’s report:
Second Quarter (2025) Highlights:
600 Funded DEpendABLE ACCOUNTS as of June 30, 2025, compared to 502 as of June 30, 2024 (81.1% Increase). (Uh, even my mathematically-challenged brain knows that this does not compute.)
New accounts decreased by 15.5% (49 new accounts) through Q 2 2025 with (58 accounts) over the equivalent time period in 2024. Total assets as of June 30, 2025 are 7,455,438.85 (a 70.1% increase). (It’s not.)
People who depend on this program really depend on this program. Raising the question: Is The State Treasurer ready, willing and ABLE to protect this vulnerable population?
I, for one, would like to hear from the State Treasurer on this.