State Treasurer of Iowa

Individuals with a Disability Can Save Above Asset Caps with IAble

June 13, 2024

DES MOINES, Iowa – State Treasurer Roby Smith is spreading the word about IAble, Iowa’s Achieving a Better Life Experience (ABLE) plan. “Individuals with disabilities face a variety of challenges; pursuing financial independence shouldn’t be one of them. The Plan allows eligible individuals with a disability to save money above the $2,000 asset limit of some federal benefits programs,” said Smith. “IAble could help you achieve your savings goals without worrying about asset caps.”

IAble, a savings plan administered by Smith, protects an Account Owner’s money from asset caps placed on federal benefits. Up to $100,000 in an IAble account is disregarded from Supplemental Security Income (SSI) eligibility, and any amount saved in an Account is disregarded from eligibility for Medicaid, Supplemental Nutrition Assistance Programs (SNAP), Housing and Urban Development (HUD) and other benefit programs. 

Money in an IAble account can be used to pay for groceries, housing, transportation, assistive technology and a variety of other Qualified Disability Expenses. The Plan also offers tax advantages. “The Account Owner, along with members of their support system, can benefit from the tax deduction. Any Iowa taxpayer contributing to an IAble account can take a deduction of up to $5,500 in 2024 of their contributions from their state taxable income,” Smith concluded. 

To learn more about IAble, visit or call (888) 609-8910. Connect with the Treasurer on Facebook, Instagram and X to stay informed on current events and updates. For additional details, read the IAble Plan Disclosure Booklet.


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