In December 2014, the federal government passed the Achieving a Better Life Experience (ABLE) Act. This legislation allowed states to offer tax-free savings accounts for persons with disabilities and their families. In 2015, Iowa's version of the bill was signed into law, paving the way for IAble.
With IAble, persons with disabilities and their families can save for disability-related expenses without losing their eligibility for certain federal assistance programs, like SSI. IAble accounts can be used for short-term saving or long-term investing, whatever best meets the needs of the account owner.