The Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act of 2014 allows those with disabilities to save for qualified disability expenses without the risk of losing their benefits from assistance programs like SSI and Medicaid.
NY ABLE is an ABLE program designed specifically for New York residents. NY ABLE accounts give earnings the ability to grow tax-deferred, and allow savings to be withdrawn tax-free for qualified expenses. Qualified expenses are any expenses related to an eligible individual’s disability.