By: Renée M. Dain, Senior Vice President, Communications and External Affairs
Maryland ABLE continues to empower individuals with disabilities and their families by creating a path to financial freedom—without risking critical means-tested benefits like Supplemental Security Income (SSI), Medicaid, and waiver services. As of January 1, 2025, even greater flexibility has been added to the program, making this the perfect time to take another look at how ABLE accounts can support your financial goals.
What is Maryland ABLE?
Maryland ABLE is a savings and investment program designed specifically for people with disabilities. It allows account holders and their families to save money for “qualified disability expenses” without affecting eligibility for essential federal and state benefits. These expenses can include anything that supports or improves health, independence, or quality of life—from housing and transportation to assistive technology and education.
Not only can the person with a disability contribute to their account, but so can family members, friends, and others. Contributions from Maryland residents can also reduce state taxable income, and the account features low fees and additional tax advantages. Maryland ABLE is a smart, secure way to plan for the future while maintaining access to vital supports.
New for 2025: Higher Contribution Limits
On January 1, 2025, the annual contribution limit for ABLE accounts increased to $19,000, with an additional ABLE to Work contribution limit of $15,060 for eligible individuals who are employed. This change gives account holders even greater flexibility and opportunity to build financial security for today—and for the future.
Three Tips to Maximize Your ABLE Account Contributions
Whether you’re just opening an account or looking to boost your balance, Kelly Nelson, Outreach and Communications Manager at Maryland ABLE, shares the following practical tips to help account holders maximize their savings:
- Let the April Showers Work for You
Take advantage of the Weather Booster feature! When the National Weather Service predicts a 50% or greater chance of rain in your zip code, a designated amount is automatically deposited into your ABLE account. Set it and forget it—this fun, hassle-free savings tool can help you build your balance little by little. - Encourage Family and Friends to Gift
Celebrating a birthday, graduation, or special milestone? Instead of traditional gifts, ask loved ones to contribute to your ABLE account through your personalized gifting page. It’s easy for them—and empowering for you. - Watch for One-Time Windfalls
Tax refunds, work bonuses, or back payments from Social Security can provide a meaningful boost to your savings. Consider directing some or all of these unexpected funds into your ABLE account to move closer to your financial goals.
Want to learn more?
Join Us for our next Community Enrichment Series Webinar on ABLE Accounts: A Financial Planning Tool for People with Disabilities and their Families on Tuesday, June 10, 2025 at Noon – 1:00 p.m. Presented by Kelly Nelson, Outreach and Communications Manager, Maryland ABLE, this webinar will cover everything from eligibility and enrollment to account features and how ABLE can support long-term financial literacy—especially for students and young adults. Click HERE to register for the June 10th webinar.
For more information or to register, visit www.marylandable.org.
