MARYLAND
“Maryland ABLE Program” is the name of Maryland’s ABLE program
Helpful Information About Maryland’s ABLE Program:
Program Name
Maryland ABLE Program
State Administrator
Maryland 529
Program Administrator
Vestwell State Savings, LLC, dba Sumday Administration
Enrollment Website
https://www.sumday.com/register/maryland-able
State ABLE Law
The Maryland ABLE Act (2016 Maryland Laws Ch. 39 (H.B. 431)
Want to learn more (fees, state incentives, etc) about this program and others across the country?
Medicaid Estate Recovery
Effective October 1, 2018 Maryland passed state legislation stating that unless required by federal law, an agency or instrumentality of the state may not seek payment under § 529a(f) of the internal revenue code from an able account or its proceeds for any amount of medical assistance paid for the designated beneficiary. It further states that unless prohibited by federal law, on the death of a designated beneficiary, money and assets in an able account may be transferred to:
(1) The estate of the designated beneficiary; or
(2) An able account for another eligible individual specified by the designated beneficiary or the estate of the designated beneficiary.