Winter 2023

Message from the Treasurer

WVABLE fee reduction announced

WVABLE accountholder featured in magazine

As WVABLE grows in popularity, people are taking notice. In its Fall 2023 issue, West Virginia Executive Magazine featured students around the state who are benefiting from state programs and excelling in their chosen fields. WVABLE was proud to showcase Logan Campbell, a WVABLE account owner, who is working 20-hours a week at the USDA Forest Service. Logan is saving a portion of his paycheck in a WVABLE account. Logan was the first person to open a WVABLE account in West Virginia.

You can read Logan's full story HERE.

Year end is fast approaching, but there is still time to maximize your WVABLE account contributions. Below are a few tips.



West Virginia residents or taxpayers making a contribution in a WVABLE account may be eligible for a WV State Income Tax Deduction.

Not only can accountholders maximize contributions in their STABLE account, but generally, contributions to the Plan are deductible for West Virginia state income tax purposes and West Virginia residents and taxpayers may be eligible to deduct contributions from federal adjusted gross income. You should consult a qualified tax advisor about how the laws apply to your circumstances. Have questions related to STABLE Account tax forms? Click HERE to review a list of FAQs.

Maximize your annual contribution before the end of the year. There is a $17,000 annual limit on contributions made to an ABLE account for 2023. This annual limit increases in 2024 to $18,000.

Contributions can come from any source and individuals who are in a position to reach the annual limit may maximize this benefit to reset the annual limit the following year. Employed beneficiaries – through the ABLE to Work Act - may contribute an additional $13,590 of their earnings to reach $30,590 contributions for 2023 (for tax year 2024, this limit increases to $14,580).

Important deadlines: To make electronic contributions before year end, you have until December 28, 2023, at 4 p.m. ET. Check contributions must be received in good order by December 29, 2023, at 4 p.m. ET. Be sure to include the check contribution form, and make sure the check is mailed as early as possible to account for possible delays with the postal service. For questions, please contact STABLE Account customer service at 1-800-439-1653.

Set up a gifting page directly from your WVABLE account to invite family and friends to contribute to your savings. To make gift giving quick and easy, STABLE account created a unique Gifting tool feature that can be created by the person managing the account. Once your page is created, you’ll receive a direct link to it that can be shared with family and friends via text or email, and it can also be posted to social media. Learn more about how to set up a gifting page and how to make gift giving by family and friends quick and easy: How do I set up my gifting page? - WVABLE.

The Entity ALR Establishment webinar recording is now available for viewing.

On November 1, 2023, WVABLE hosted a webinar training designed specifically for organizations and providers that serve as a Social Security Representative Payee (SSRP), legal guardian or conservator, or Power of Attorney for WVABLE eligible individuals. The webinar was recorded, and you may click the button below to view.

STABLE accounts are a valuable financial tool that allow organizations and providers to avoid the routine monthly “spend-down” of a beneficiary’s funds and instead save for their future needs – all while protecting the beneficiary’s eligibility for public benefits, including SSI, Medicaid, SNAP and HUD.

The training provides a walkthrough of the Entity Authorized Legal Representative (ALR) process that makes opening and managing multiple STABLE accounts more efficient. Additionally, we highlight a new reporting feature by STABLE program manager that allows entities to run their own reports on demand. We hope you find this resource helpful and informative. If you have additional questions or would like to request a copy of the PowerPoint slide deck, you may email wvable@wvsto.gov with your request. We welcome you to share this resource with other organizations and providers who may also benefit.

Attention Partners

In addition to the quarterly newsletter, WVABLE has several other resources available that make sharing program materials and information easy.  Please click the link below to view the list of WVABLE Resources including forms and posters that can be printed or shared electronically. Also, these are great resources to include in your organization newsletters, on Facebook, or via email to individuals and families you serve. Please note, the new 2024 contribution limits will be included on the forms and will be posted to the resources page by January 1, 2024. You may also reach out to WVABLE and request paper forms and posters be mailed to you by emailing wvable@wvsto.com.