Have You Heard About ABLE Accounts? This Could Change Everything for People Living With MS
If you are living with a disability and no one has told you about ABLE Accounts yet, consider this as your introduction to one of the most underutilized financial tools available to you.
7/1/20265 min read
Disclaimer: I am sharing informational resources regarding financial tools for the disability community. I am not a financial advisor, CPA, or legal professional. Please consult with a certified financial planner or the ABLE National Resource Center to confirm your personal eligibility and state rules.
What Is an ABLE Account?
An ABLE account is a special savings and investment account for people with disabilities. It lets your money grow tax-free, and you can take it out tax-free too, as long as you use it for qualified disability expenses.
Qualified expenses include those that many of us with chronic illness pay for every day, such as housing, transportation, healthcare, assistive technology, education, and personal support services. These are real-life costs that come with MS and other disabilities, and an ABLE account lets you save for them without financial penalties.
Why Are So Few People Using Them?
This fact really surprised me: about 8 million people in the United States are eligible for an ABLE account, but as of December 2025, only 234,000 people had opened one.
That difference is huge. It shows that the main issue is not eligibility, but awareness. Many people just do not know about ABLE accounts, which is why I wanted to write this post.
Big News: The Eligibility Rules Just Changed
This is especially important if you were diagnosed with MS in your 30s or 40s.
Starting in January 2026, the eligibility rules for ABLE accounts will expand. Before, you had to have a disability that began before age 26. Now, the age limit is before age 46.
This change means that millions of people who were not eligible before, including many with MS diagnosed in their late 20s, 30s, or early 40s, may now qualify. If you were diagnosed with MS before turning 46, it is worth checking if you are eligible.
How an ABLE Account Protects Your Benefits
One of the biggest reasons to look into this immediately involves government benefit limits. For years, individuals relying on Supplemental Security Income (SSI) or Medicaid faced a harsh reality: saving more than $2000 meant losing their vital monthly assistance. This asset limit essentially forced people with chronic conditions like Multiple Sclerosis to stay in a cycle of financial vulnerability just to keep their healthcare coverage.
An ABLE account completely shatters that barrier. The federal government allows you to save up to $100,000 inside an ABLE account without it counting against your $2,000 SSI resource limit. If your account balance goes over $100,000, your SSI payments are merely suspended temporarily, but your Medicaid coverage remains completely active and untouched. For the MS community, this means you can finally build an emergency fund, save for a rainy day, or prepare for future medical flares without the terrifying fear of losing your health insurance or monthly support.
What Can You Use an ABLE Account For?
Qualified disability expenses cover a wide range of needs, including:
Healthcare and medical expenses, including medications and treatments
Housing and utility costs
Transportation, including rideshares and vehicle modifications
Assistive technology and adaptive equipment
Education and job training
Personal support services
Financial management services
Recreation and wellness activities related to your disability
For those of us living with MS, these expenses are a big part of daily life. Being able to save and use money tax-free for these costs is real financial relief, and more people in our community should know about it.
How Your Money Grows: Savings and Investment Options
Many people assume an ABLE account is just a regular checking account, but it is actually a powerful wealth-building tool. When you deposit money into your account, you aren't forced into just one option. You can choose exactly how you want your funds to be managed based on your personal comfort level and financial goals.
If you want absolute safety, you can choose a standard cash savings pathway. This option functions like a traditional bank account, earns a modest interest rate, and is completely FDIC-insured. However, if you are saving for long-term future needs. you can choose to invest your money in diversified portfolios. Most state programs offer conservative, moderate, and aggressive investment tracks. The best part? Any earnings your investments make grow entirely tax-free, allowing your financial safety net to grow faster over time.
Real-World Examples for the MS Community
While the official guidelines state that funds can be used for broad categories like housing, transportation, and health, it helps to understand what that looks like in daily life with Multiple Sclerosis. Standard health insurance and Medicaid often leave massive gaps in coverage for the exact tools we need to maintain our independence. An ABLE account bridges that gap perfectly.
For instance, you can use your tax-free ABLE distributions to purchase specialized cooling vests to manage heat sensitivity during the summer months. You can use the funds to modify your vehicle with hand controls, build a wheelchair ramp for your home, or purchase advanced mobility aids that your regular insurance denies. Furthermore, these funds can directly cover the out-of-pocket co-pays for physical therapy, chiropractic care, mental health counseling, or even hiring a home health aide during a severe MS flare-up. It is all about using your savings to improve your overall quality of life.
How Do You Open One?
ABLE accounts are run by each state, so every state has its own program. Most states let people from other states enroll, so you do not have to use your home state's program. A good place to start is the ABLE National Resource Center at ablenrc.org, where you can compare programs and find the best fit for you.
To qualify, you usually need a disability that started before age 46 and must meet the Social Security definition of significant functional limitations. Many people with MS will meet these rules, but it is important to check the details for the program you are interested in.
Why I Am Talking About This
As an MS Ambassador with the National Multiple Sclerosis Society and someone who has lived with this disease for over 20 years, I care deeply about financial empowerment. MS is expensive. The medications, appointments, adaptive tools, and days you cannot work all add up in ways that are hard to understand unless you have lived it.
If there is a financial tool that can help even a little, and most people in our community do not know about it, then sharing this information is part of my purpose.
The federal government is now working to raise awareness of ABLE accounts through a new grant program to reach more people with disabilities and their families. I want to be part of this outreach because I believe our community should know about every resource available.
Your Next Step
If you have MS or another qualifying disability and this is your first time hearing about ABLE accounts, I encourage you to visit ablenrc.org and learn more about your options. Please share this post with anyone who might benefit. The more people who know, the more they can take advantage of these resources.
Living with MS is already a lot to handle. Make sure you use every resource that can help you.
With peace and purpose,
Nicole
Founder, Peace Plates & Purpose
MS Ambassador, National Multiple Sclerosis Society
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Disclaimer: The articles and content indexed on Peace Plates & Purpose represent personal experiences and educational resources regarding wellness, recipes, and living with Multiple Sclerosis. This platform does not provide professional medical, financial, or legal advice. Always consult a certified professional regarding your health or financial choices.