The expansion of eligibility for California’s CalABLE program marks a meaningful step forward in advancing financial stability for Californians living with disabilities, particularly military veterans.
California State Treasurer Fiona Ma, CPA, has positioned CalABLE as a cornerstone of financial inclusion, and the eligibility expansion this year for individuals whose disabilities began before age 46 significantly broadens its reach.
Age Extension Represents a Transformational Shift
CalABLE is a state-administered savings and investment program designed to help individuals with disabilities build long-term financial security without jeopardizing access to critical public benefits such as Supplemental Social Security Income , Medicaid, and Medi-Cal.
Until recently, eligibility was limited to individuals whose disability began before age 26. The federal ABLE Age Adjustment Act expanded that threshold to age 46, creating new opportunities for millions more Americans, including a substantial number of veterans and individuals with adult-onset disabilities, to access ABLE programs across the country. CalABLE accounts can be opened at any age as long as the disability began before the age of 46.
Aligning with Real-Life Experiences of Veterans
The policy change is particularly impactful for military veterans because many service-connected disabilities do not emerge until later in life. Physical injuries, traumatic brain injuries, and conditions such as post-traumatic stress disorder often surface or intensify after years of service, sometimes well beyond the age of 26. By expanding eligibility to disabilities that began before age 46, CalABLE now aligns more closely with real-life experiences of veterans transitioning from active duty to civilian life.
This matters because financial stability is often one of the most significant challenges veterans face during that transition. While programs exist to support employment and healthcare, fewer tools are designed to help veterans build assets over time in tax-advantage accounts. CalABLE addresses this gap directly. It allows eligible individuals to save and invest for qualified expenses, including housing, transportation, education, job training and skills development, and healthcare. Additionally, CalABLE accounts are partially or wholly exempt from the standard asset limits for many public benefit programs like Supplemental Security Income (SSI), allowing individuals to save for themselves or a loved one while maintaining access to the safety net they depend on.
CalABLE account holders can save up to $529,000 across eight different investment options. Investment earnings are tax free as long as the funds are used for qualified expenses. Family members, friends, and employers can contribute to an account as well. For veterans, CalABLE helps save for the transition from the military or supplement healthcare costs that go beyond what the U.S. Department of Veterans Affairs covers.
California State Treasurer’s Office Leadership Expands Access
The California State Treasurer’s Office not only administers CalABLE but has actively promoted and expanded its reach. Treasurer Fiona Ma has consistently advocated for programs that evolve to meet the needs of underserved communities, including veterans and people with disabilities.
“When someone serves our country, that commitment doesn’t end when they come home, and neither should ours," said Treasurer Ma. "Veterans carry the impact of their service with them, and they deserve real support that helps them move forward and build their future. Expanding CalABLE gives more veterans the ability to save for things like housing, healthcare, and their future without risking the benefits they rely on. That’s how we honor service with action and create real pathways forward.”
The upcoming webinar hosted by American Veterans Group reflects that commitment, bringing together capital markets leadership and public policy to highlight practical solutions that improve outcomes for veterans and their families.
Building Long-Term Economic Mobility
From a broader perspective, the CalABLE expansion also enhances workforce participation and long-term economic mobility. Veterans who gain access to CalABLE accounts are better positioned to plan for the future, manage unexpected expenses, and pursue career opportunities without fear of losing benefits. This aligns closely with the mission of organizations such as American Veterans Group, and its partner VetJobs, which focus on connecting veterans to meaningful employment while supporting their long-term success. Additionally, veterans with or without a disability can open an account on behalf of a dependent with a disability, helping them save and plan for the future without affecting critical benefits like SSI.
Financial Inclusion Must be Adaptive
Equally important, the expansion underscores a growing recognition that financial inclusion must be adaptive. Programs designed decades ago often fail to reflect the evolving realities of modern service members and veterans. By extending the eligibility age, policymakers and leaders such as Treasurer Ma are acknowledging that disability and financial need do not adhere to arbitrary timelines.
As American Veterans Group convenes this conversation, the message is clear: policy innovation, when paired with mission-driven leadership, can create tangible, lasting impact. The CalABLE age extension is more than a technical adjustment. It is a strategy advancement that empowers veterans to build stability, preserve dignity, and pursue opportunity on their own terms.
Join our upcoming webinar with California State Treasurer Fiona Ma, CPA, to hear how CalABLE and related initiatives are translating policy into real outcomes for veterans and their families.
