State Treasurer of Iowa

5 Things to Know About IAble

What is an IAble account? After the Achieving a Better Life Experience (ABLE) Act was passed by the federal government, states were allowed to create tax-advantaged savings plans for eligible individuals with disabilities, and their families, to save for qualified disability related expenses without the fear of losing their federal benefits. IAble is Iowa’s ABLE plan and enables account owners to use the funds for qualified expenses such as assistive technology, housing, education and more.*

Why the need? Many individuals with disabilities and their families depend on public benefits like Social Security Income (SSI), Social Security Disability Insurance (SSDI), Medicaid and more. Eligibility for these programs are often means-tested, which limits the individual from having more than $2,000 in savings or they risk the loss of their benefits. IAble allows eligible individuals to save above the $2,000 threshold and still maintain eligibility for these programs.

Who is eligible to open an IAble account? An individual is eligible to open an account if the onset of their disability was present before the age of 26. An individual can be over the age of 26 and open an account, but the disability had to be present before their 26 birthday. If you meet the age criteria and are entitled to SSI and/or SSDI, you are eligible to open an account. If you are not receiving SSI and/or SSDI but still meet the age criteria for onset, you may have the option to self-certify.

How can I help an IAble account owner during the COVID-19 pandemic? During these trying times, it’s important to look out for those we love. You can do so by contributing to their IAble account. As a bonus, if you are an Iowa taxpayer, you can deduct up to $3,439 of your contributions from your adjusted gross income taxes for 2020.** Just ask for the account owner’s unique and secure Ugift code to make a contribution today.

How do I manage my account during the COVID-19 pandemic? I recognize the importance of being able to access critical accounts like IAble during these trying times. Our website,, has the tools for you to find answers to FAQ’s, discover which type of investor you are, open an account and manage your existing account.

*Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as applicable state and local income taxes.

** The Federal Annual Contribution is $15,000. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. Adjusted annually for inflation.

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