FAQs
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- About ABLE
- Account Management
- Additional Tax Benefits and Penalties
- ALR
- Banking and Investments
- Contributions and Withdrawals
- Eligibility
- Getting Started with ABLE
- Gifting
- Prepaid Card
- Recurring Contributions
- Rollover
- Successors and Estates
- Tax Credit
- Do I use the same login information if I have multiple Hawai'i ABLE ABLE accounts?
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Yes, you have only one username (email) and password to log in to all the ABLE accounts you manage for either yourself or your beneficiaries.
- If I manage multiple ABLE accounts, can I transfer funds from one ABLE account to another?
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No, as a security measure, we do not allow for the transfer of funds from one ABLE account to another ABLE account.
- What happens after the death of a beneficiary? Is there a Medicaid payback?
- In the event of the death of a beneficiary, the funds from their ABLE account can be used by their estate to repay any outstanding eligible expenses and funeral and burial costs. Remaining funds will be transferred to the estate of the beneficiary. Medicaid in some states is restricted from filing... Read more
- Are contributions to a Hawai'i ABLE account considered to be an asset?
- The money in a Hawai'i ABLE account is not considered to be an asset for state and federal benefit purposes. This includes SSI, Medicaid, HUD housing assistance, SNAP, FAFSA applications, and more. For Supplemental Security Income (SSI) benefits only, you can have up to $100,000 in the Hawai'i ABLE... Read more
- Can I give other individuals access to my account?
- Only you, the Hawai'i ABLE account owner, should access your account online with your email and password. For security reasons, you should not share your login information with anyone unless they are your Authorized Legal Representative (ALR). If you want to change the ALR for your account, give us... Read more
- How do I close my account?
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Please give us a call and we’ll help you to formally close your Hawai'i ABLE account. You can reach us Monday through Friday, at 1-844-394-2253, 9am-8pm ET. We’ll be sad to see you go.
- How do I make withdrawals from my account? How long do they take?
- It’s easy to make withdrawals from your Hawai'i ABLE Savings Plan account online. You can withdraw as little as $5 each time and transfer that money into any bank account linked to your Hawai'i ABLE account. If you have more than one investment, you can decide which investment you’d like to pull... Read more
- What are the fees associated with an account?
- The Hawai'i ABLE Savings Plan aims to keep investment fees relatively low and waive any additional recurring fees when you manage your account online—the easiest and simplest way to manage your account. There is a low annual fee of $35 to keep everything running smoothly. There is also an annual... Read more
- Are there age restrictions to open an ABLE account?
- To open an ABLE account, you must be an adult with a qualifying disability or blindness that developed before the age of 26. Your current age doesn’t impact your eligibility to open an account. Please note, with the passage of new federal legislation, the age of onset for disability will be raised... Read more
- Is there a minimum amount to open an account?
- There is a $25 minimum deposit to open a Hawai'i ABLE account. After that, you can add as little as $5 at a time. You can save money in a cash option, invest, or both. The choice is up to you. If you decide to make an investment, at least 10% of your total funds need to be invested in one of the... Read more
