Treasurer Smith Shares List of IAble’s Top Five Benefits
DES MOINES – Treasurer Smith encourages individuals with disabilities and their support system to consider saving with IAble in 2024. “A new year is the perfect opportunity to review past goals and determine new ones for your future,” Smith said. “If things like achieving financial freedom and saving money without restrictive asset caps comes to mind, IAble might be a perfect fit for you.”
IAble is Iowa’s Achieving a Better Life Experience (ABLE) plan and helps individuals with disabilities and their support system save money. “With an IAble account, you or someone you love can achieve those goals and more,” said Smith. “IAble.gov is a great resource, but to make it even easier, I’ve also created a top-five list of things to know about the Plan. Make sure to share with those you think might be interested!”
Up to $100,000 can be saved in an IAble account without affecting eligibility for Supplemental Security Income (SSI).
Any amount saved does not affect eligibility for other federal needs-based programs, including Medicaid.
Choose from a blend of up to six Investment Options and a Checking Account Option, which comes with a debit card.
Money saved can be used for any expense relating to the Account Owner’s disability, including rent, food, assistive technology and employment support.
If an Account Owner does not have the capacity to manage their finances, an Authorized Individual may do so on their behalf.
For additional information about who is eligible for an IAble account, visit IAble.gov/eligibility. Connect with the Treasurer on Instagram, Facebook and X, formerly Twitter, for updates and news. For details about the Plan, review the Plan Disclosure Booklet.