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The National Fragile X Foundation is excited to announce the State of Tennessee’s launch of the country’s second Achieving a Better Life Experience (ABLE) program. ABLE TN is a national program, offering enrollment to qualified individuals with disabilities both in Tennessee and throughout the country.

As with the recently launched Ohio plan, ABLE TN allows qualified individuals with disabilities to save up to $14,000 a year in an ABLE account, without jeopardizing their eligibility for federally-funded, means-tested benefits, such as Social Security and Medicaid. The funds in the account can be used for disability-related expenses that assist the beneficiary in increasing, and/or maintaining their health, independence or quality of life.

Millions of individuals with disabilities and their families are often relegated to a life of poverty as a result of not being allowed to build even the most modest levels of resources. Individuals receiving supports through Social Security, Medicaid and other publically-funded programs are often disqualified from those supports if they have more than $2000 worth of resources or assets. With the launch of nationwide ABLE programs, individuals with disabilities and their families will be able to take a step towards better securing their financial futures and offsetting the often significant financial challenges that can accompany living with a disability.

ABLE TN has minimal costs associated with establishing and maintaining an ABLE account. Total annual asset-based fees range from 0 percent to 0.63 percent, depending on the investment selections held within an account. There are no sales or distribution charges or fixed account maintenance fees associated with ABLE TN accounts. The total annual asset-based fee includes the underlying investment expenses and program management fee. The annual asset-based fee is divided over 12 months and applied to the account balance at the end of each month.

ABLE TN and the Ohio STABLE Account programs are currently the only two programs enrolling beneficiaries in the country, and they are doing so only via their online portals.

Nebraska (a national plan) and Florida (an in-state only plan) will likely launch prior to July 1.

For more information on ABLE TN and how to enroll, please visit www.abletn.gov.

The NFXF is a supporting member of the ABLE National Resource Center and will report ongoing and new developments as they occur.