ABLE Accounts in Florida: What Changed on January 1st, 2026
If you or someone you care about has a disability, there's a financial tool in Florida that just became available to significantly more people. Let me walk you through what ABLE accounts are and why the recent changes matter so much.
What Exactly Is an ABLE Account?
Think of an ABLE account as a special savings and investment account designed specifically for individuals with disabilities. It's similar to an IRA or 401(k) in that your money grows tax-free, but it serves a completely different purpose—giving disabled individuals control over their finances while protecting their eligibility for crucial government benefits.
The account works like this: you can contribute money each year (as of 2026, that's $20,000 annually), and those funds grow without being taxed. But here's the real advantage—money sitting in an ABLE account doesn't count against you when determining your eligibility for Medicaid or Supplemental Security Income (SSI) in Florida.
The Game-Changing Update
Until December 31st, 2025, there was a major limitation. To qualify for an ABLE account, your disability had to have started before your 26th birthday. That meant if you became disabled at age 27, 35, or 40, you were out of luck—no matter how severe your condition.
That all changed on January 1st, 2026.
Thanks to the ABLE Age Adjustment Act, the qualifying age jumped from 26 to 46. Now, if your disability began before you turned 46 years old, you can open an ABLE account in Florida. This opens the door for countless individuals who previously had no access to this beneficial financial tool.
How to Qualify in Florida
Here's what you need to know about eligibility:
You must prove that you became disabled before turning 46 years old. It doesn't matter when you actually received your official disability determination—you could get that determination at 50, 60, or even 70 years old. What matters is when the disability itself occurred.
In Florida, you'll work with an organization called ABLE United, which administers ABLE accounts for the entire state. You can visit their website at ableunited.com to begin the process. You'll need to provide documentation showing either an official disability determination or proof that you incurred your disability before age 46.
Why This Matters for Medicaid and SSI
For most Medicaid programs in Florida, there's a strict asset limit: you can't have more than $2,000 in your personal name. This creates an impossible situation for many people with disabilities who want to save money or set aside funds for future needs.
ABLE accounts solve this problem beautifully.
Money held in an ABLE account doesn't count toward that $2,000 limit. The same applies to SSI. This means you can now have:
- Up to $2,000 in your personal bank accounts
- An additional amount in your ABLE account (typically up to $100,000 before you encounter limitations)
- Full control over these funds
The disabled individual—or their representative—maintains complete control over the ABLE account. You decide how to invest it, when to withdraw money, and what to spend it on.
Annual Contributions and Growth
As of January 1st, 2026, you can contribute up to $20,000 per year to an ABLE account. Your account can certainly grow beyond $20,000 because:
- You can add another $20,000 the following year, and the year after that
- Your investments may generate returns
- Previous years' contributions accumulate
Most ABLE accounts won't reach the $100,000 threshold where complications can arise, but if yours does, there are strategies available to address that situation.
Who Should Consider an ABLE Account?
This financial tool can be incredibly valuable if you:
- Were born with a disability
- Suffered an injury or illness that caused a disability before age 46
- Currently receive or may need Medicaid or SSI benefits in the future
- Want to maintain control over your own finances
- Hope to save and invest money without jeopardizing government benefits
Even if you're well past age 46 now, as long as you can document that your disability began before that age, you're eligible to open an ABLE account in Florida.
Getting Started
Opening an ABLE account in Florida is straightforward. Visit ableunited.com and follow their application process. You'll need documentation of your disability, which might include:
- An official Social Security disability determination
- Medical records establishing when your disability began
- Other documentation proving the onset date of your condition
Remember, the key date is when your disability occurred, not when it was officially diagnosed or when you received a determination letter.
Planning for Your Future
ABLE accounts represent just one piece of a comprehensive financial and care plan for individuals with disabilities. They work alongside other planning tools—like special needs trusts—to provide maximum financial security while maintaining benefit eligibility.
The expansion of ABLE account eligibility to those who became disabled before age 46 represents a significant opportunity for thousands of Floridians. If this applies to you or someone you're caring for, taking action now can provide both immediate and long-term financial benefits.
Whether you're thinking about Medicaid planning, SSI eligibility, ABLE accounts, or any combination of strategies to help pay for the care you need, understanding your options is the first step toward financial security.
Additional Resources
For more information about Medicaid planning and strategies for covering long-term care expenses in Florida, you can visit:
- Website: elderneedslaw.com
- Medicaid Planning Resources: medicaidplanninglawyer.com
- Book: How to Get Medicaid to Pay for Some of Your Long-Term Care Expenses
If you're anywhere in the state of Florida and want to discuss your specific situation, setting up a consultation can help you determine the best path forward for your unique circumstances.
