Recently, Colorado, Indiana, and New York opened qualified ABLE programs, bringing the total number of jurisdictions with ABLE programs to 29.
Colorado and Indiana’s ABLE programs are open to all eligible individuals nation-wide. They have six investment options and a checking option with a debit card. The accounts have a quarterly fee of $15, which is reduced by $3.75 for individuals who elected to receive their statements electronically. Additionally, they have asset-based fees ranging from 0.34% to 0.38% depending on the investment options chosen.
New York‘s ABLE Program is currently only open to state residents. It has four investment options and a checking account with a debit card. Accounts have a quarterly fee of $11.25 for account-holders who receive electronic statements and $13.75 for account-holders who receive paper statements. Additionally, there is a 0.4% asset-based fee on investment options.
More information about state implementation of the ABLE Act can be found here. General information about ABLE programs can be found in the National Policy Matters: ABLE Accounts for People with Disabilities here.