There are currently an estimated 1,000 or more Iowans with disabilities who are saving with IAble accounts. The tax-advantaged savings plan provides an opportunity for eligible individuals to save above the $2,000 resource limit and maintain federal benefits such as Supplemental Security Income (SSI) and Medicaid. Account owners can save for qualified disability-related expenses, such as housing, food, assistive technology and transportation. Additionally, any Iowa taxpayer contributing to an IAble account can deduct up to $3,474 in contributions from their adjusted gross income for 2021. “I wish I could individually congratulate each of the 1,000 account owners for taking the step towards financial freedom,” says Iowa State Treasurer, Michael Fitzgerald. “We’re only scraping the surface of the opportunities IAble can provide for an individual with a disability, and I look forward to celebrating more accomplishments from the plan as we continue to grow.” IAble holds over $8.7 million in assets with an average account size of $8,480. Ways to access more information on the plan is available below.
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For more information:
Phone: 888-609-8910
Email: www.IAble.gov