DES MOINES – This football season, State Treasurer Roby Smith is cheering about IAble, Iowa’s Achieving a Better Life Experience (ABLE) plan. “Individuals with disabilities utilizing federal benefits, such as Supplemental Security Income (SSI) or Medicaid, get tackled by asset caps when trying to save money,” said Smith. “These asset caps often limited them to having more than $2,000 – until ABLE plans came around. To get the word out, I’ve created a list of ways they can score big by saving with IAble.”
The Touchdown: IAble offers six Investment Options to match the Account Owners goals and comfort with risk. Touchdown! Don’t forget about the extra point; IAble’s Checking Account Option provides a debit card and online banking. Seven points on the scoreboard for the home team!
The Offense: IAble Account Owners are always on the offense. Whether they want to spend their savings on day-to-day expenses, keep it for the long-term or a little bit of both, they always have possession of the ball. The playbook is in their hands.
The Opponent: Defeating your asset caps is easy with IAble. Up to $100,000 in an IAble account is disregarded from eligibility for SSI, and any amount saved is disregarded from eligibility for Medicaid and other federal benefits.
The Team: If an eligible individual with a disability is not willing or able to open an Account, they can enlist a member of their team (Authorized Individual) to open one on their behalf. But remember, the individual with a disability is always the coach and owner of the Account.
“No need for a fair catch with IAble – run after your savings goals without accepting the fate of asset caps,” Smith concluded. “Make it to the Superbowl of financial freedom by visiting IAble.gov and starting with as little as $25 today.”
For additional information about IAble and to take the Eligibility Quiz, visit IAble.gov/eligibility/eligibility-quiz. Connect with the Treasurer on Instagram, Facebook and X, formerly known as Twitter, for updates and news. For details about the Plan, review the Plan Disclosure Booklet.