ABLE Accounts in Wisconsin: Key Things to Know for WI Residents

There are many types of accounts for individuals to employ as part of their saving and investment plan – IRAs, HSAs, FSAs, 529 plans, and more. However, there is one account that we haven’t covered before and doesn’t get a lot of attention when considering the alphabet soup of account types – an ABLE account.

ABLE accounts offer individuals with disabilities and their families a powerful, tax-advantaged way to save and invest without losing eligibility for government benefits. For Wisconsin residents, there are some unique considerations when opening an ABLE account.

In this guide, we’ll cover the key facts about ABLE accounts and what you should know if you live in Wisconsin.

What is an ABLE account?

The ABLE acronym stands for Achieving a Better Life Experience. It became law on Dec. 19, 2014. An ABLE account is a tax-advantaged savings account that allows individuals with a disability and their families to save and invest money without losing certain government benefits (i.e. SSI, SSDI, Medicaid). The money in the account grows tax-deferred and income from the account is tax-free when used for qualified expenses.

What are considered qualified expenses for ABLE accounts?

Qualified expenses include a broad range of categories, such as:

• Financial and administrative services
• Housing and food
• Transportation
• Education
• Assistive technology
• Personal support services
• Healthcare expenses

Who is eligible for an ABLE account?

To open an ABLE account, the individual must:

• Have a disability or blindness before age 26
• Meet SSI or SSDI eligibility or obtain a disability certification

How much can I contribute to an ABLE account?

As of 2025, the annual contribution limit is $19,000 per beneficiary (adjusted annually).
Total contributions from all sources cannot exceed this limit, excluding earned income by the beneficiary.

Can Wisconsin residents open an ABLE account?

Wisconsin does not offer its own ABLE program.
However, Wisconsin residents can open an account in any state that accepts out-of-state participants—currently, 28 states offer this option. You can visit the Wisconsin Department of Revenue website for additional details.

Bonus: Wisconsin offers a state tax deduction up to the federal gift exclusion limit ($19,000 in 2025) for direct contributions to an ABLE account.

How to Choose the Best ABLE Account

Each state’s ABLE plan has different features, including:

• Annual fees ($0–$45)
• Debit card availability
• Investment options (from 4 to 15 funds)
• Expense ratios (0.34%–0.94%)
• Maximum account limits ($234,000–$550,000)

Top Recommendations:

1. Virginia’s ABLEnow Plan – Best for maximizing account balance
2. National ABLE Alliance (NAA) Member Plans – Best overall flexibility and cost-effectiveness

Which is better, an ABLE account or a trust?

You can use both! An ABLE account works well on its own, but you can also use it in combination with a special needs trust or pooled trust. This comparison chart from the ABLE National Resource Center goes into more detail about the differences between an ABLE account, special needs trust, and pooled trust.

Start Planning for Your Family’s Future

Navigating ABLE accounts can be complex, especially across state lines.
Schedule a meeting with Walkner Condon Financial Advisors to ensure you’re making the most of this important savings tool.