We are excited to announce that beginning December 1, 2018, the lifetime contribution limit for a Maryland ABLE account will increase from $350,000 to $500,000. When the balance of the ABLE account drops below $500,000, you will be able to again make contributions until the balance reaches $500,000. Please remember that while Maryland ABLE account holders are now able to contribute $500,000 over the lifetime of their account, assets over $100,000 still count toward the Social Security resource limit.
Questions? Contact us at 1-855-5MDABLE or via email at firstname.lastname@example.org.