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Organization name: NC ABLE (Achieving a Better Life Experience)
Contact Person: Mary Buonfiglio (Deputy Director, Supplemental Plans, North Carolina Department of State Treasurer), Phone: 919-814-4176, mary.buonfiglio@nctreasurer.com
Purpose/mission: Enhance the life experience of persons with disabilities by providing financial security
Population served: Achieving a Better Life Experience (ABLE) accounts are designed for those with the occurrence of a disability before the age of 26.
Services/programs/resources offered:
The NC ABLE Program was launched in 2017 and allows eligible individuals the opportunity to save and fund a variety of qualified disability expenses while maintaining Medicaid, SSI and other public supports. NC ABLE accounts can help pay for a variety of expenses, such as:
Education
Transportation
Housing
Health and Wellness
Financial Management
Legal Fees
Assistive Technology
and more
NC ABLE accounts can be opened by an eligible individual, who is the account owner, or by the account owner’s parent, guardian, or person acting under a power of attorney. NC ABLE accounts are open to eligible individuals throughout the US. The account can be funded by the account owner, family or friends, and in some cases, funds can also be transferred to a NC ABLE account from a 529 college savings account. It is important to know that account owners can contribute up to $15,000 per year to a NC ABLE account, and individuals that qualify for the NC ABLE Program have a greater annual allowance for contributions to their account with the ABLE-to-Work provision. Overseen by the Department of State Treasurer and the Board of Trustees, NC ABLE currently has over 1,200 account holders with more than $10.7 million in assets and an average account balance of nearly $8,700.
Costs/requirements to participate:
Eligible individuals can open the account for themselves, or an authorized individual can open an account on their behalf. There are a few requirements that individuals with disabilities must meet to be able to have an account.
You're eligible if:
Your disability was present before the age of 26; and
One of the following is true:
You are eligible for SSI or SSDI because of a disability
You experience blindness as determined by the Social Security Act; OR
You have a similarly severe disability with a written diagnosis from a licensed physician that can be produced if requested.
You must self-certify that you have one of the following:
Blindness as defined by the Social Security Act (SSA); OR
A medically determinable physical or mental impairment with marked severed function limitation that has lasted, or is expected to last, at least 12 continuous months or result in death;
AND you must have a written disability-related diagnosis signed by a physician.
You must re-certify annually.
Proof of eligibility is not required to open an account. However, you should maintain a record of your diagnosis, benefits verification letter or other relevant documents in the event that you are required to prove eligibility at a later time.
How families can access more information if interested in pursuing:
Contact info: (888) 627-7503, nc.clientservice@savewithable.com