Using your account

Things to know about your Attainable Savings PlanSM


Managing your Attainable account with Fidelity

Contributing to your Attainable account

Once an account has been established for an eligible individual, anyone can contribute. Contributions to the account made by any person (the account beneficiary, family, or friends) use after-tax dollars and are not tax deductible. Contributions can be made by check, an electronic funds transfer from a bank or other outside account, or a transfer from another Fidelity account using the transfer tool at

Aggregate annual contributions to an Attainable account may not exceed the federal annual gift-tax exclusion amount, which is currently $14,000 but may change in the future.

Withdrawing from your Attainable Savings PlanSM account

Only you (the designated beneficiary/eligible individual or the person with signature authority (PSA), if applicable) can make withdrawals from your Attainable account. You can withdraw money from your Attainable account a few ways:

  • Most simply, by transferring funds from your Attainable account electronically to another Fidelity account or to an outside bank account; we have an easy-to-use transfer tool that can help
  • You can call an Attainable account specialist to request a check or fill out a withdrawal form and submit it to us
  • By opening a Fidelity Cash Management Account once your Attainable account has been funded. Use your Fidelity Cash Management Account features like a debit card, fee-free ATMs, and free checkwriting to manage your disability-related expenses.

Investment allocations

When you open your Attainable account, you identify the portfolio(s) where you want new deposits to be invested. You can change this investment direction for new deposits at any time. However, for money already invested in the account, you may only move that money between portfolios in the account twice per calendar year and may also do so upon change of the account owner/designated beneficiary. See FAQ for more information on designated beneficiary changes. To make an investment change, please call a representative.

Tax Benefits

Disability Benefit Considerations

  • Can money in my Attainable account impact my Social Security benefits?

    The Social Security Administration (SSA) has provided general guidance on this topic. The money in your Attainable account will not usually impact your eligibility for Supplemental Security Income benefits; however, any account balance over $100,000 will be counted as a resource of the designated beneficiary and could result in the suspension of your SSI benefits. For more information on withdrawals, please see the FAQ If I make a withdrawal from my Attainable account, do I need to spend the money right away so as not to impact Supplemental Security Income (SSI) benefits? Also, for more detailed information, please review the Attainable Disclosure Document (PDF).

  • Can money in my ABLE account impact my Medicaid benefits?

    Medicaid benefits are not impacted by money invested in an Attainable account, regardless of balance level. Please refer to the Attainable Disclosure Document (PDF) for a more detailed discussion related to Medicaid benefits or contact your home state's benefits agency to get information on your specific situation.

  • What about other disability benefit programs; can my Attainable account balance impact my benefits from them?

    The Social Security Administration has provided general guidance on the impact an Attainable account may have on eligibility for a designated beneficiary or eligible individual for other disability benefit programs. Please see the Attainable Disclosure Document (PDF) for specific details. Also, for more information on your state's disability programs, please contact your state benefits agency or a qualified benefits advisor.

  • What is the Medicaid Recapture provision?

    Upon the death of the account owner/beneficiary, any state may file a claim against unexpended amounts in an Attainable account. For example, the claim could be for the amount of total Medicaid assistance paid out for the account owner's benefit after the establishment of the Attainable Savings PlanSM account. Payments for all outstanding qualified disability expenses, including funeral expenses, are paid before any such Medicaid claim. Also, the amount payable is reduced by the amount of all premiums paid by or on behalf of the account owner/beneficiary to a Medicaid Buy-In program under that state's Medicaid plan. Check with a qualified legal advisor to determine your state's Medicaid policies and procedures.

Eligibility and Account Registration

  • Do I need to provide proof of disability?

    The Attainable Savings PlanSM doesn't require you to submit documentation regarding the disability, but the IRS or Social Security Administration reserves the right to request this documentation and thus you must retain proof in your personal records. You will be required to certify and attest on the Attainable account application that you meet and comply with the eligibility requirements as set forth under IRC Section 529A, including the annual recertification requirements.

  • If the account is for a child, or someone who is otherwise unable to manage the account, who is the account owner?

    In all circumstances, the eligible individual, also known as the designated beneficiary, is the account owner. A person with signature authority (PSA) can establish and control an ABLE account for a designated beneficiary who is a minor child, is otherwise incapable or has chosen not to manage the account. The PSA must be the designated beneficiary's parent, legal guardian, or agent acting under Power of Attorney (POA). The PSA has full control and authority over the account and must use the account for the benefit of the designated beneficiary. If the PSA is a guardian or has POA, additional documentation will be required to be submitted at account opening. If there is a PSA on the account, the designated beneficiary/eligible individual cannot act on the account.

  • Can I have more than one ABLE account; for example, an Attainable account as well as an ABLE account with a different state plan?

    No, an eligible individual may only have one ABLE account, such as the Attainable Savings PlanSM. However, if you are the parent, guardian, or Power of Attorney (POA) of more than one qualified individual, each of them would be eligible for a separate ABLE account.

  • Do I need to be a resident of a certain state to open an Attainable account?

    No. While the Attainable Savings PlanSM is offered by the Massachusetts Educational Financing Authority (MEFA) and is the Massachusetts ABLE Plan, the Attainable Plan is offered to any eligible U.S. resident regardless of state of residence. The Attainable Plan does not charge different fees and expenses based on state of residence.

    The qualified ABLE programs offered by your home state may offer its residents or taxpayers state tax advantages or other benefits. Additionally, some states offer residents state tax incentives for investing in any qualified ABLE program. You should consider the state tax advantages and benefits offered by your home state, including those available for investing in your home state's qualified ABLE program, before making an investment in the Attainable Plan.

Limits on the account

  • How much money can be contributed to an ABLE account?

    Annual contributions may not exceed the federal gift tax exclusion limit, which is $14,000 as of 2017. An existing account balance can grow without limitation, but you can't make additional contributions once the account balance reaches $400,000 (as of 2017). Fidelity automatically prevents excess contributions from being accepted.

  • How often can I change my investments?

    You may reallocate previously invested money among portfolios in your Attainable account twice per calendar year and upon changing the account owner (See our FAQ Can I transfer my Attainable account to another person?). You may direct future contributions to different portfolios at any time. To make an investment exchange, you can call a representative or complete and mail a form.

  • Is there a minimum balance or minimum amount to open an Attainable account?

    You may open an Attainable account with as little as a $50 deposit. You must maintain at least $30 in the account. We reserve the right to close accounts with balances below this level and disburse any remaining balance to the account owner.

Spending from an Attainable account

  • What are "qualified disability expenses"?

    Qualified disability expenses are any expenses for the benefit of the account owner in maintaining or improving his or her health, independence, or quality of life. These expenses include, but are not limited to, education, housing, transportation, employment, training and support, assistive technologies and related services, personal support services, or health and basic living expenses.

  • Do I have to prove I spent the money on a qualified expense?

    No explanation is needed to withdraw money from your Attainable account. However, the IRS may ask you to verify that the money was used for a qualified expense, so you should keep records detailing how you’re spending that money.

  • What if I do not spend the withdrawal on a qualified disability expense?

    This would be considered a non-qualified withdrawal, and taxes, as well as a potential 10% federal penalty tax, may be owed on earnings associated with the withdrawal. Non-qualified withdrawals may also impact disability benefits.

  • If I make a withdrawal from my Attainable account, do I need to spend the money right away so as not to impact Supplemental Security Income (SSI) benefits?

    The Social Security Administration has stated that for many qualified disability expenses, you don't need to spend the money in the same month in which you withdraw it from your Attainable account. If you choose to do that, you must maintain the Attainable account while the withdrawal is not spent, be able to identify the money, and intend to use the money for a qualified disability expense.

    However, for housing related expenses, you must spend the money on the housing expense in the same calendar month in which you withdraw it from your Attainable account. If these conditions aren't met, the withdrawal may be counted as a resource and could impact SSI benefits.

    After the money has been withdrawn (but before it's spent), you can maintain the money in separate account such as a personal checking account or a Fidelity Cash Management Account.

Fidelity Cash Management Account

  • How could I use a Fidelity Cash Management Account with my Attainable Savings PlanSM?

    Consider opening a Fidelity Cash Management Account to use with your Attainable account. You can transfer money online to your Fidelity Cash Management Account and use all of its features to manage your qualified disability expenses. Visit this page for more information about Fidelity Cash Management Accounts. Once you transfer money from your Attainable account to a cash management account (as with a personal bank account), it's no longer part of the Attainable plan.

  • What features does a Fidelity Cash Management Account provide that I may find useful?

    Transferring funds to your Fidelity Cash Management Account is the fastest way to get access to money invested in an Attainable account. Withdrawals from an Attainable account made prior to market close will be available in your cash management account the following day. Transfers to an outside bank may take an extra day or two. You can transfer money from your Attainable account to your Fidelity Cash Management Account online.

    • A debit card is available to make purchases and access to cash easier.
      • ATM-fee reimbursement
      • No annual debit card fee
      • Receive text alerts for debit card purchases
      • Leverage payment services such as ApplePay®
    • Joint account ownership is an option
    • Leverage Fidelity's BillPay® service
    • Checkwriting with no additional fees
    • Works with third-party services as well as Fidelity Full View® to track and categorize expenditures
    • Monthly statements showing expenditures and deposits

Account maintenance and transfers

Learn more about Attainable accounts

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The Attainable account

The Attainable account

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