Saving with STABLE Accounts
GCDD thanks STABLE Accounts Deputy Director Doug Jackson for hosting our Facebook Live Forum on how families and individuals with disabilities can stop spending down their money and save and invest it without losing their Medicaid and SSI benefits!
Read the quick overview below about STABLE Accounts, or
go to the STABLE Account website and learn how to open an account today.
What is STABLE?
STABLE accounts allow eligible families and individuals to save money towards college, transportation, housing, assistive technology and other disability-related expenses, while still receiving SSI and Medicaid Benefits. You can save up to $15,000 per year and it only takes $50 to open an account.
What can I buy with my STABLE funds?
Funds in the account can be used to purchase qualified disability-related expenses - that means any expense related to the designated beneficiary’s disability that assists him/her in increasing and/or maintaining their health, independence and/or quality of life.
These may include expenses related to education, housing, transportation, employment training and support, assistive technology, personal support services, health care expenses, financial management and administrative services and other expenses.
How do I enroll in STABLE?
Enrolling in STABLE accounts is quick and easy, and takes less than 15 minutes! In Georgia, eligible applicants can enroll FREE online at www.georgiastable.com.
Did You Know:
- It takes only $50 to open a STABLE account.
- STABLE is a transactional account meaning that you can use the money saved to support disability-related expenses like housing, education, technology or more.
- The money earns interest and goes towards building financial security.
- People with disabilities who are employed can save an additional $12,000/year to their STABLE accounts.
- In Georgia, people have saved and invested almost $1.8 million.