The ABLE Act (an acronym for Achieving a Better Life Experience) was passed in 2014 to help individuals with disabilities and their families better deal with the expenses that are an essential part of daily living, without negatively affecting their eligibility for public assistance.
Many states have since created programs to benefit these folks, which are based on the existing IRC §529. As a result, many features of these ABLE accounts are very similar to a college savings plan, but there are distinctive differences.
We have put together a summary comparing and contrasting the two programs. (Click on image to enlarge.)
