WHAT IS NC ABLE?
North Carolina law now allows all parents of qualified children to open NC ABLE accounts, regardless of guardianship type or the child's age.
North Carolina parents who serve as guardians can set up ABLE accounts. NC ABLE offers tax-advantaged savings accounts for people with intellectual/developmental disabilities (I/DD).
With NC ABLE, people who qualify can save for future disability expenses. They can invest in long-term savings, without affecting their current benefits. Individuals are eligible if their disability was present before the age of 26, and at least one of the following is true:
- You have a disability within a written diagnosis from a licensed physician that can be produced if requested; or
- You experience blindness as determined by the Social Security Act; or
- You are eligible for SSI or SSDI because of a disability.
Before NC ABLE was enacted in 2014, only a parent or guardian of a minor child was able to open or administer an account. This left parents/guardians of adult children without access to these tax-advantaged savings and investment accounts for their loved ones.
To open an account, call NC ABLE, toll-free: 1-888-627-7503.