DES MOINES – With the holiday season approaching, State Treasurer Roby Smith is encouraging family and friends of those saving with IAble, Iowa’s Achieving a Better Life Experience (ABLE) plan, to consider making a gift contribution. “The holidays are about togetherness and showing those around us how much we love and appreciate them,” said Smith. “Gifting can come in ways other than a package with a bow. Making a contribution to a loved one’s IAble account is a gift that can last and grow.”
Together, Account Owners and their support systems can contribute up to $17,000 per year to an IAble account, allowing individuals with disabilities to save and maintain eligibility for federal assistance programs such as Supplemental Security Income (SSI) and Medicaid. Funds in an Account can be used for Qualified Disability Expenses like housing, food, support services and assistive technology that help improve or maintain health, independence or quality of life.
There are also tax advantages to saving with IAble, including a state tax deduction. Any Iowa taxpayer contributing to an IAble account can deduct up to $3,785 of their contributions from their state taxable income for 2023.
This holiday season, to support loved ones in your life living with a disability, consider using Ugift® – a free and easy way to make a contribution to an IAble account. Account Owners can log in to their IAble account, locate their unique gifting code and share it with family and friends. “Once an Account Owner’s gifting code has been shared with you, visit UgiftABLE.com. Enter the code and the amount you’d like to contribute and complete the transaction. It’s that easy,” Smith continued. “Helping someone achieve their best life experience is a gift that continues to give long after the holiday season.”
Visit IAble.gov/resources/give-a-gift.com for more information. For additional information about IAble, visit IAble.gov. 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.