Stimulus Payments and ABLE Accounts

Jun 30 2020

Texas Comptroller of Public Accounts
 

 

 

Texas ABLE Logo

The last several months have brought many changes to our daily lives. Even through the uncertain times, the Texas Achieving a Better Life Experience (Texas ABLE®) Program continues to help Texans with disabilities.

Stimulus Payments and ABLE Accounts

Recent federal guidelines were issued regarding COVID-19 stimulus payments. If you or your loved one recently received a stimulus payment, now might be a good time to consider saving in a Texas ABLE account. You can save funds in an ABLE account while keeping eligibility for benefits like Supplemental Security Income (SSI), Medicaid and HUD. We’ve compiled a list of frequently asked questions and invite you to learn more: COVID-19 Stimulus Payments and ABLE Accounts.

Explore and Enroll

Getting started with Texas ABLE is quick and easy at TexasABLE.org. Learn all the program details, use our eligibility wizard and enroll online.

We Are Here for You

In the coming days, we hope that you and your loved ones stay safe and healthy. If you need us, our customer service team is ready to answer your questions. Feel free to contact us at 844-489-2253 or reach us by email at customerservice@TexasABLE.org. Customer service hours are Monday through Friday, 8 a.m. to 5 p.m., CDT, excluding holidays.

Other than FDIC insurance for the Bank Savings Account Option, accounts are not insured or guaranteed and could lose money (including the principal invested). Before investing in the Program, investors should carefully consider the federal and state tax consequences, possible negative effects on eligibility for federal or state benefits, possible Medicaid recapture, investment objectives, risks, administrative fees, service and other charges and expenses associated with the Program. The Program Disclosure Statement and Participation Agreement contains this and other information about the Program and may be obtained by visiting TexasABLE.org or by calling 844-4TX-ABLE (844-489-2253). Investors should read the Program Disclosure Statement and Participation Agreement carefully before investing.