VIRGINIA

“ABLEnow” is the name of Virginia’s national direct-sold ABLE program.

 Helpful Information About Virginia’s ABLE Program:

 

Program Name
ABLEnow

State Administrator
Virginia College Savings Plan (Virginia529)

Program Administrator
Virginia College Savings Plan (Virginia529); Account Custodian - PNC Bank, NA

State Tax Incentives

Virginia offers an annual state income tax deduction of up to $2,000 per contributor for contributions to an ABLEnow or ABLEAmerica account.

Medicaid Estate 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. For customers who received Medicaid benefits outside Virginia during the time they had an ABLEnow or ABLEAmerica account open, that state’s Medicaid program can file a claim for some amount of repayment upon death. Before that happens, funds from the beneficiary’s ABLE account may be used by their estate to repay any outstanding qualified disability expenses, including funeral and burial costs.