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Frequently asked questions

Scroll down to see answers to things we get asked a lot. If you're looking for something specific, enter or choose a keyword below.

Can a Social Security Representative Payee open an account for a beneficiary?
Yes. A Representative Payee (individual or organization) can open an account for the beneficiary, acting as their Authorized Legal Representative (also known as an ALR),  if there is no one higher on the hierarchy who can, and they have been selected by the beneficiary or the beneficiary is unable... Read more
Is there a minimum to open an account?

You need $25 to get the account started. After that, you can add as little as $10 at any time.

How do I choose an investment option?
If you decide to invest all or some of the money, there are four investment options to pick from: ABLE Fixed Income, ABLE Conservative, ABLE Moderate, and ABLE Aggressive, and the Cash option. We can help educate you on the differences between all the investment options and the Cash option, but we... Read more
Can I add another Maryland ABLE investment option?
Unfortunately, you can’t add an additional investment option, but you can switch the choice you’ve already made — that is, your previously chosen option — up to twice per year.  To change your current investment option, simply log in to your account and “edit” your plan to make the changes you’d... Read more
How do I add multiple bank accounts?
Once you’re logged in to your Maryland ABLE account, find your “Accounts” section in Your Profile and click on “Add a new bank account.”  Follow the steps to connect a new bank account associated with either the beneficiary of the Maryland ABLE account or the Authorized Legal Representative.  Keep... Read more
Can I open a new account if my previous account was closed?

Yes, log in to your closed account using your email and password, then find the “Create new account” link to get started.

How does the account work?
Everything can be managed online. The money can be saved in a cash option and/or invested in one of the four investment options offered: ABLE Fixed Income, ABLE Conservative, ABLE Moderate, and ABLE Aggressive.  These choices are made during the account setup. By law, you can make investment... Read more
Do I use the same login information if I manage multiple ABLE accounts?

Yes. You have one username (email) and password to log in to all of the Maryland ABLE accounts you manage.

Who owns the account?

The account is owned by the beneficiary, regardless of whether they opened the account or it’s managed by an Authorized Legal Representative. The funds in the account belong to the beneficiary.

Can someone else access my account?

To keep the account safe, don’t share your password or let someone else have access to your account, unless they are the Authorized Legal Representative. If you want to add, change, or remove the Authorized Legal Representative for the account, we have forms to help you with the process.