ABLE Accounts do not impact HUD Benefits
Many of you have been afraid to open an Illinois ABLE account out of fear that you will lose your Section-8 housing or other benefits. You wanted to wait until you heard from HUD before enrolling in ABLE. Wait no more!
HUD just released its guidance “Treatment of ABLE Accounts in HUD-Assisted Programs,” in which HUD states:
“Per the mandate of the ABLE Act, for the purpose of determining [benefits] eligibility and continued occupancy, HUD will disregard amounts in the designated beneficiary’s/individual’s ABLE account.
Click here to read the full Guidance.