Skip to main content

Advantages for Virginians

Since ABLEnow and ABLEAmerica are Virginia-sponsored ABLE savings programs, there are unique advantages for eligible Virginians.

State tax advantages

Contributions to an ABLEnow or ABLEAmerica account could qualify for a Virginia state income tax deduction of up to $2,000 per contributor. Plus, earnings on investments grow free from state and federal taxes and are never taxed when used for qualified disability expenses.

Disability benefits

Generally, funds in an ABLEnow or ABLEAmerica account are disregarded when determining eligibility for certain federal benefits as well as state benefits provided by the Commonwealth of Virginia. Learn more about the impact of ABLE accounts on disability benefits.

Medicaid recovery

Unless required by federal law, the Virginia Department of Medical Assistance Services may not pursue Medicaid recovery claims against the ABLEnow or ABLEAmerica accounts of Virginia residents.

Advantages for Virginians

Disclosure

This video’s closed captions may include translations generated by artificial intelligence ("AI") technology. These AI-generated translations are provided to enhance accessibility and convenience for viewers who enable closed captioning. AI translation may not be fully accurate. Viewers may encounter errors, omissions, timing misalignments between captions and audio, or wording that differs from the original spoken content. Where meaning is critical, please refer to the original audio or an authoritative human-translated source. The AI-generated translations in the closed captions are provided “as is,” without warranties or guarantees of any kind, including as to completeness, accuracy, or fitness for a particular purpose. Commonwealth Savers Plan assumes no responsibility or liability for these translations.

Ready to start your savings?

Ready to enroll? You’re minutes away from opening an ABLE account with ABLEnow.

Open an Account

What to learn next

Impact on Benefits

Build savings without putting certain public benefits at risk.

Learn How It Works

Qualified expenses

See what ABLEnow accounts can cover.

Learn About Expenses

Investment options

Compare investment options available through ABLEnow.

Compare Portfolios

Stay in touch

Sign up for the newsletter to get the latest information

* = required

Search