What kind of benefits do I get?

One of the main benefits of having a CalABLE account is being able to save for eligible expenses and invest for the future in a tax-advantaged account. The account’s growth is tax-free. In some states, contributions to an ABLE account may qualify you for a state income tax deduction. A tax deduction is not currently available for California residents. If you live outside of California, please check with your state taxation agency or financial planner for more information on your state tax benefits.

And as long as your balance stays below the $100,000 Supplemental Security Income (SSI) limit, you can keep your SSI benefits and still qualify for Medi-Cal and other benefits (regardless of the amount you saved in your account). You’ll also get access to a simple and intuitive online platform to manage your account.