Expanded Eligibility for IAble Accounts Announced

State Treasurer Roby Smith announced a major expansion of eligibility for IAble, increasing the age-of-disability-onset to age 46. The change will allow thousands more Iowans with disabilities take control of their finances while saving with a tax-advantaged plan, that supports greater independence and financial security.

Previously, only people whose disability began before age 26 were eligible for an IAble account. Under new federal guidelines, individuals with a qualifying disability that began before age 46 may now open and contribute to an account.

“Expanding IAble eligibility is a great opportunity to give people with disabilities more ways to save,” said Treasurer Smith. “By raising the age limit, we’re ensuring more Iowans with disabilities and their families have access to a financial tool that helps them save for today’s expenses and future spending without jeopardizing critical means-tested benefits.”

IAble accounts allow eligible people to save and invest money for qualified disability-related expenses such as housing, transportation, education, employment training, healthcare, assistive technology and more.

For more information about IAble eligibility, benefits and how to open an account, visit IAble.gov.

A soundbite is available for your use.

More about IAble:

IAble, Iowa’s Achieving a Better Life Experience (ABLE) savings program, administered by State Treasurer Roby Smith, provides eligible people with disabilities and their support systems a way to save money while maintaining crucial benefits for federally means-tested programs such as Supplemental Security Income (SSI), SSDI and Medicaid. Funds in IAble accounts can be used to cover qualified disability expenses like assistive technology, support services, medical bills and much more. If you or a loved one could benefit from an IAble account, visit IAble.gov.

For more details about IAble, review the Plan Disclosure Booklet.