Oregon ABLE Savings Plan
For qualified Oregon residents only
*Updated on 02/22/2025
Please visit Oregonablesavings.com for the most up-to-date information.
What is an ABLE Account?
When an individual with special needs applies for disability benefits, they must show that they do not have enough money to support themselves independently. Money held in traditional bank accounts will count against the ability to qualify for these disability benefits.
Due to this, people with special needs may not be able to build savings with the money they earn or that they receive through inheritance or gifts.
This means that people with special needs may live with very little money if they want to receive government aid.
ABLE accounts can help cover this gap by giving individuals with special needs the opportunity to manage a modest bank account, while not penalizing their eligibility for SSI, Medicaid, or other government benefits.
The Oregon ABLE Savings Plan
The Oregon ABLE Savings Plan is designed to be a "qualified ABLE program", which permits a beneficiary of an ABLE to make tax-free withdrawals to pay for qualified disability expenses under certain circumstances. The Oregon ABLE Savings plan accommodates Oregon residents only, for out-of-state residents the ABLE for All plan applies.
To be eligible for an ABLE savings plan, an individual must have been diagnosed with a disability before age 26, and be eligible to receive benefits under Supplemental Security Income (SSI) and/or Social Security Disability Insurance (SSDI). Individuals who are not receiving SSI and/or SSDI may still be eligible if they meet the age requirement and have been diagnosed by a licensed physician and received a letter of certification.
2025 Account limit:
$400,000
$100,000 to maintain eligibility for SSI under either program
2025 Annual contribution limit:
$19,000*
ABLE to Work
The limit for additional ABLE to Work contributions in 2025 is up to $15,060 or the total of their wages, whichever is less. *Not eligible if you or your employer are contributing towards a qualified retirement plan. Read more here.
State tax deduction/credit for contribution:
Oregon Residents
may qualify for up to a
$360 Tax Credit
for making contributions to this account in 2025
Important Details
Open to out-of-state residents: No
Minimum amount to open an account: $25
Debit or prepaid card available: Yes
Investment options: Three investment options with varying risk
Annual maintenance fees: $35 annually
Annual account balance fees: Depends on the investment option selected. The total asset-based fees range from 0.30% - 0.34%
What qualifies as an eligible expense?
Living Expenses
Employment, Training, & Support
Administrative Services
Education
Personal Support Services
Legal Fees
Housing
Health, Prevention, & Wellness
Oversight & Monitoring
Transportation
Financial Management
Funeral & Burial