What kind of benefits do I get?

One of the main benefits of having a STABLE account is being able to save for qualified expenses and invest for the future in a tax-advantaged account. 

Individuals may claim a credit for 5 percent of the total qualified contributions they make to a Utah resident’s ABLE Utah account. Contributions must be made during the taxable year and have an itemized statement from the qualified ABLE Utah savings plan. Individuals may not claim credit for an amount of a contribution that is returned to them or an amount already deducted on their federal income tax return.

Beneficiary's own contributions may also be eligible for the federal Saver's Credit.

Your Supplemental Security Income (SSI) will not be affected as long as the account balance stays below $100,000. Other federally means-tested benefits are not affected regardless of the amount saved in the account. You’ll also get access to a simple and intuitive online platform to manage your account.