What ABLEnow does

ABLEnow is a national ABLE (Achieving a Better Life Experience) savings program operated by Commonwealth Savers Plan, an independent agency of the Commonwealth of Virginia (formerly known as Virginia529). It enables eligible individuals with disabilities — and their families, authorized representatives, and the organizations that serve them — to save and invest tax-free while preserving eligibility for means-tested public benefits such as Medicaid and SSI. The program is qualified under Section 529A of the Internal Revenue Code and is open to eligible individuals in all 50 states and the District of Columbia, with no state residency requirement.

The platform is a web-based financial product accessible via online portal and mobile apps (iOS and Android), offering four investment options (Aggressive Growth, Moderate Growth, Conservative Income target-risk portfolios, and an FDIC-Insured Savings option) plus a Checking Account option through Fifth Third Bank with debit card, check writing, and MoneyPass ATM access. Distribution runs through three channels: direct-to-consumer online enrollment, the advisor-sold ABLEAmerica sub-brand (in partnership with Capital Group/American Funds), and an Entity Management Dashboard for organizations managing multiple client accounts. As of March 2026, Ascensus serves as recordkeeper, succeeding PNC Bank, and the program benefits from recent federal regulatory tailwinds including the ABLE Age Adjustment Act, permanent codification of the ABLE to Work Act, and an increased $20,000 annual contribution limit.

ABLEnow's revenue is generated from asset-based investment fees (0.18% on target-risk portfolios, 0.15% on FDIC savings) and recurring account maintenance fees ($8.50/quarter electronic, $12.75/quarter paper), plus ancillary fees on the checking option. The program reports 20,000+ account owners and $200M+ in customer assets saved, with a 56% year-over-year increase in new enrollments observed in early 2026 following eligibility expansion. ABLEnow is positioned as the largest independent ABLE program in the United States, and Ascensus's broader portfolio covers nearly half of all US ABLE programs.

Name

ABLEnow

Legal name

Commonwealth Savers Plan

Website

https://ablenow.com

Company type

Private

Founded year

2015

Operating status

Operating

Short description

ABLEnow is the largest independent national ABLE savings program, administered by Virginia's Commonwealth Savers Plan, offering tax-advantaged savings and investment accounts to eligible individuals with disabilities across all 50 states without jeopardizing Medicaid or SSI benefits.

Ownership category

akta.pro rank

Product category

ABLE Savings Program

NAICS

Services for the Elderly and Persons with Disabilities (62412), Health and Welfare Funds (525120), Health and Welfare Funds (52512), Vocational Rehabilitation Services (62431)

SIC

Services-Social Services (8300), Finance Services (6199)

akta.pro primary industry

Special Needs & Supplemental Needs Trust Services (FSAAANAJ)

akta.pro secondary industries

Disability Services & Assistive Solutions (Accessibility, Assistive Tech) (BPAGALAM), Disability Benefits Administration (BPAIAKAC), Benefit Eligibility, Identity Verification & Fraud/Overpayment Recovery (BPAIAKAL)

Keywords

• ABLE savings accounts
• Disability savings program
• Tax-advantaged investing
• Special needs planning
• Section 529A program

Headquarters

HQ city

Chesterfield

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Marketing or Sales, Personnel, Others

Revenue model

1. Asset-Based Investment Fees: ABLEnow earns asset-based fees on investment portfolio balances. Target-risk portfolio options (Aggressive Growth, Moderate Growth, Conservative Income) charge a 0.18% annual asset-based fee assessed quarterly. The FDIC-Insured Savings Account charges a 0.15% annual asset-based fee. The Checking Account option has no asset-based fee.
2. Account Maintenance Fees: ABLEnow charges quarterly account maintenance fees: $8.50 per quarter for electronic statement delivery (default), or $12.75 per quarter for paper statements. The Checking Account option also has a $2 monthly service charge unless the account maintains an average daily balance of at least $250 or enrolls in electronic statements with Fifth Third Bank.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels9 records

Core offering

ABLEnow is a national, tax-advantaged ABLE (Achieving a Better Life Experience) savings account program that enables eligible individuals with disabilities to save and invest without jeopardizing means-tested public benefits such as Medicaid and SSI. The program offers multiple investment portfolio options (target-risk and FDIC-insured savings), an optional checking account via Fifth Third Bank, online and mobile account management, and an advisor-sold variant (ABLEAmerica) through Capital Group.

Product overview

ABLEnow is the nation's largest independent ABLE (Achieving a Better Life Experience) savings account program, administered by Commonwealth Savers (formerly Virginia529). The core offering consists of tax-advantaged ABLE savings accounts for eligible individuals with disabilities, with investment options including Aggressive Growth, Moderate Growth, Conservative Income, and FDIC Insured Savings portfolios. A companion sub-brand, ABLEAmerica (in partnership with Capital Group/American Funds), offers advisor-sold ABLE options. The Checking Account Option (via Fifth Third Bank) provides debit card and check-writing access. The Entity Management Dashboard enables organizations to manage multiple accounts for clients. The program expanded nationally in 2016 and underwent a major recordkeeper transition to Ascensus in March 2026.

Differentiator

Problem solved

Functional benefit

Brands

• ABLEAmerica: ABLEnow's partnership with Capital Group, home of American Funds, offering an advisor-sold ABLE savings program. It allows individuals to work with a financial professional to build an ABLE savings plan using American Funds.

Products and services

• ABLEnow ABLE Savings Account National direct-sold ABLE savings account program for eligible individuals with disabilities (disability onset before age 46), allowing tax-advantaged saving and investing while preserving eligibility for Medicaid and SSI. Includes multiple portfolio options and online/mobile account management.
• ABLEAmerica Advisor-sold variant of the ABLEnow ABLE savings program, offered through Capital Group/American Funds, allowing account owners to work with a financial professional to build a tailored ABLE savings plan using American Funds investment options.
• ABLEnow Checking Account Option Banking option offered through Fifth Third Bank providing flexible access to ABLE funds via debit card, check writing, and cash withdrawals at fee-free MoneyPass ATMs. Balances earn interest and are FDIC-insured.
• Entity Management Dashboard Institutional tool that enables organizations (nonprofits, government agencies, for-profit providers) to open and manage multiple ABLEnow accounts on behalf of eligible clients, acting as Authorized Individuals via power of attorney, conservatorship, or SSA representative payee.

Quantifiable outcome

• Over 20,000 account owners served across all 50 states with more than $200 million saved
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• AscensuscoreTechnology or Integration · 23 March 2026Ascensus became the recordkeeper for ABLEnow in March 2026, succeeding PNC Bank. The transition brought a modernized platform, lower fees, and professional program administration. Ascensus is described as the nation's largest independent third-party administrator and government savings facilitator, with extensive experience supporting ABLE programs. Ascensus reports administering nearly half of all ABLE programs in the United States (23 states + DC), with over 75,000 funded accounts and more than $1 billion in assets under management.
• Commonwealth Savers (formerly Virginia529)coreStrategic or Co-development PartnerCommonwealth Savers serves as the program administrator for ABLEnow. Formerly known as Virginia529, it is an independent agency of the Commonwealth of Virginia responsible for administering Virginia's state-facilitated savings programs, including those for disability (ABLEnow and ABLEAmerica), education (Invest529), and retirement savings. The agency was established and governed by Chapter 7 of Title 23-1 of the Code of Virginia and meets the requirements of a qualified state tuition program under Section 529 and a qualified ABLE program under Section 529A of the Internal Revenue Code.
• Capital Group / American FundscoreStrategic or Co-development PartnerABLEAmerica is ABLEnow's partnership with Capital Group, home of American Funds, one of the oldest and largest mutual fund companies in the country. ABLEAmerica is the nation's only advisor-sold ABLE program, allowing eligible individuals to work with a financial professional to build a tailored ABLE savings plan using American Funds investment options. This is the advisor-distribution channel of the ABLEnow program.
• Fifth Third BankcoreTechnology or IntegrationFifth Third Bank is the banking partner for the ABLEnow Checking Account option. The Checking Account provides ABLEnow account owners with flexible access through a debit card, check writing, and cash withdrawals at over 40,000 fee-free MoneyPass ATMs nationwide and Fifth Third Bank branches. Balances earn interest and are FDIC-insured. The Checking Account has its own login, account number, and routing number separate from the main ABLEnow account.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• MI ABLE (Michigan): Michigan's statewide ABLE savings program for individuals with disabilities. Directly comparable in structure (529A-qualified, multiple investment portfolios, debit card option) and serves a similar disability population; competes for national market share.
• STABLE Account (Ohio): Ohio-administered national ABLE program with broad multi-state acceptance. Operates as a direct competitor in the nationwide ABLE market, offering similar tax-advantaged savings, debit card access, and investment portfolios to eligible individuals with disabilities.
• CalABLE (California Achieving a Better Life Experience): California's state ABLE savings program for individuals with disabilities. Directly comparable to ABLEnow in product structure (tax-advantaged savings, multiple investment options) and target population, with the added advantage of a California state tax deduction for in-state contributors.
• ABLE Tennessee: Tennessee's state-sponsored ABLE program open to eligible individuals nationwide. Comparable disability savings product with investment and checking options, competing head-to-head with ABLEnow for non-Virginia residents and offering a state tax deduction for Tennessee contributors.
• ENABLE (New Jersey): New Jersey's state ABLE program, also administered by Ascensus. Closely comparable to ABLEnow in product, target population, and underlying recordkeeping platform, representing both a peer and a fellow Ascensus-administered program.

Broad incumbents

• Ascensus (Government Savings Administration): Nation's largest independent third-party administrator for ABLE, 529, and government savings programs, administering nearly half of all U.S. ABLE programs. Now serving as ABLEnow's recordkeeper; not a competitor but a strategic partner and infrastructure peer across the broader disability savings category.
• Invest529 (Commonwealth Savers Plan): Virginia's 529 college savings program, also administered by Commonwealth Savers Plan (ABLEnow's parent state agency). Operates the same Section 529/529A framework and shares infrastructure; serves as a directly related tax-advantaged savings product for households in the same family.

Others

• Capital Group / American Funds: One of the largest U.S. mutual fund companies and ABLEnow's strategic partner for the ABLEAmerica advisor-sold channel. Comparable as a large investment product manufacturer whose funds ABLEnow distributes through financial advisors for higher-balance account owners.
• Fifth Third Bank (Checking Account partner): Large regional bank providing the FDIC-insured Checking Account option embedded in the ABLEnow platform. Functions as an embedded banking partner rather than competitor, but is comparable as a banking provider serving retail disability and low-balance customer segments.

Emerging players

• Special Needs Alliance / SNT providers: Network of attorneys and firms administering special needs trusts (SNTs) for individuals with disabilities, often complementary to ABLE accounts. Comparable as a parallel vehicle for disability-related savings and benefits preservation; increasingly used together with ABLE accounts in planning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/ABLEnowVA

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ABLEnow