Bridges Resource Library

How Much Money Can Go into an ABLE Account?

Updated as of January 18, 2024.

Annual Limit

All ABLE accounts have an annual contribution limit ($18,000 in 2024). You may contribute less than this amount, but you may not contribute more in a single year. This amount is tied to federal gift tax exemption, and it does increase by $1,000 every few years.

Special Additional Annual Contributions

In addition to the annual limit (currently $18,000), some ABLE account owners may make additional annual contributions under the ABLE to Work Act. The additional contributions are permitted when the ABLE account owner is employed and is not participating in an employer-sponsored retirement plan. That working individual may contribute an additional amount equal to the lesser of that person’s gross income that year or the federal poverty level (in 2024, $14,580 in Maryland and most other states). In other words, an individual with an ABLE account can save up to $14,580 in addition to the $18,000 annual contribution limit per year.

Total Limit

ABLE accounts can exceed $100,000. For example, the account limit for Maryland ABLE plans is $500,000.

However, for purposes of SSI eligibility, only $100,000 of the funds in an ABLE account are excluded from resources. Amounts over $100,000 will count toward resources (which are capped at $2,000 for individuals) for SSI eligibility determinations. 

More About ABLE Accounts

Comprehensive post: All About ABLE Accounts

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This unique project is being coordinated through The IMAGE Center of Maryland, a center for independent living in Towson, and it is funded by a grant from the Maryland Department of Education Division of Special Education/Early Intervention Services.

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