Support comes as ABLE celebrates 10 years

As Delaware joins the rest of the country in marking the 10th anniversary of the Achieving a Better Life Experience (ABLE) Act, Treasurer Davis announces DEPENDABLE, Delaware’s ABLE plan, received crucial support from the Delaware Department of Health and Social Services (DHSS). Through a Memorandum of Understanding, DHSS provided $20,000 to support outreach initiatives designed to educate individuals about the benefits and opportunities of ABLE accounts. The assistance will help raise awareness and help more people enroll in the program and start saving.

The ABLE Act was signed into law on December 19, 2014, allowing people with disabilities and their families to open tax-advantaged savings and investment accounts. These accounts help save for disability-related expenses while maintaining eligibility for SSI, Medicaid, and other government means-tested benefits.

“Without an ABLE account, people who rely on benefits such as Supplemental Security Income (SSI), Medicaid or food stamps (SNAP) are limited to just $2,000 in assets, but that’s not nearly enough,” said Treasurer Colleen Davis. “According to a National Disability Institute report, adults with disabilities require, on average, 28% more income to achieve an identical standard of living as a household of the same size and income where no one has disabilities.”

“Saving in an ABLE account allows individuals with disabilities to keep the pivotal benefits they need,” said DHSS Cabinet Secretary Josette Manning. “We are grateful to be able to provide this important funding which will help raise awareness and offer all Delawareans a path toward personal financial security”

Research conducted by the Financial Health Network shows 93% of people with disabilities are unfamiliar with ABLE, and as a result, this funding comes at the perfect time. The ABLE program is expanding on January 1, 2026, as the age of disability onset to qualify for ABLE rises from 26 to 46 years old.

“The more outreach we do, the more people we can expose to the ABLE program and increase the number of enrollees.” said Treasurer Davis. “The funding from DHSS will allow us to attend meetings, participate in conferences, and sponsor programs in order to spread the word about ABLE and help more of Delaware’s most vulnerable citizens save for the future and continue to receive essential benefits.”

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