Treasurer Smith Announces IAble Hit $20 Million in Assets
DES MOINES – State Treasurer Roby Smith is thrilled to share IAble, Iowa’s Achieving a Better Life Experience (ABLE) plan, has reached $20 million in assets. “I am so proud of our IAble Account Owners for trusting the Plan to help them overcome frustrating financial barriers and plan for the future,” said Smith. “The money they have contributed can go a long way in helping them achieve their version of a better life experience.”
IAble, administered by Smith, provides individuals with disabilities and their support systems a way to save money while still maintaining their eligibility for federal means-tested programs like Supplemental Security Income (SSI) and Medicaid. Up to $17,000 a year can be contributed into an Account to pay for assistive technology, support services, food, housing, medical bills and other Qualified Disability Expenses. Without an ABLE plan, resource limits for many federal programs are capped at $2,000.
“Individuals in the disability community have voiced how difficult it is to stay under the resource limit if they want to afford different purchases or save for the future,” continued Smith. “With ABLE plans, saving for these goals is made possible. Now they can save for expenses that will greatly improve their health, independence or quality of life without risking eligibility for their crucial public benefits.”
Visit IAble.gov to learn more and read the Plan Disclosure Booklet for details about the Plan. Connect with the Treasurer on Facebook, Instagram and Twitter for facts and updates about all of his consumer programs.