It is important to understand that not all individuals with disabilities will be eligible to open an ABLE account. The following questions can help determine eligibility for an account with the ABLE ME program:
- Is the individual a Maine resident?
- Was the individual’s disability present before age 26?
- Does the individual fall under one of the following scenarios:
If the answers to the above questions are all “yes”, and the individual does not currently have an existing ABLE account open with the ABLE ME Program or another ABLE account provider, they may be eligible for a Maine ABLE Benefit Checking Account.
- Currently receive benefits under SSI and/or SSDI, or is eligible to but is not currently, purely due to resource limitations?
- Meet Social Security’s definition and criteria regarding significant functional limitations and have a letter of certification from a licensed physician (ex: MD, DO)?
Maine ABLE Benefit CheckingSM accounts are not guaranteed or insured by any state, any state agency or subdivision thereof, or their authorized agents or affiliates. Before opening an account, you should carefully read and understand the ABLE ME Informational Booklet. Maine ABLE Benefit CheckingSM is offered through a partnership with the State of Maine Office of the State Treasurer, owner of the ABLE ME Program.
Please note that neither Bangor Savings Bank nor the Maine State Treasurer’s Office can offer legal, benefits, or tax advice. If you have questions you should consult with your personal legal, benefits, or tax advisor(s) before opening an Account, making deposits, withdrawing money, or otherwise transacting business in the Account. Please see the ABLE ME Informational Booklet for detailed ABLE ME Program information.