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Treasurer Smith Announces Expanded Eligibility for IAble Accounts
DES MOINES – State Treasurer Roby Smith has announced a major expansion of eligibility for IAble, increasing the age-of-disability-onset to age 46. The change will allow thousands more Iowans with disabilities take control of their finances while saving with a tax-advantaged plan that supports greater independence and financial security.
Previously, only people whose disability began before age 26 were eligible for an IAble account. Under new federal guidelines, individuals with a qualifying disability that began before age 46 may now open and contribute to an account.
“Expanding IAble eligibility is a great opportunity to give people with disabilities more ways to save,” said Treasurer Smith. “By raising the age limit, we’re ensuring more Iowans with disabilities and their families have access to a financial tool that helps them save for today’s expenses and future spending without jeopardizing critical means-tested benefits.”
IAble accounts allow eligible people to save and invest money for qualified disability-related expenses such as housing, transportation, education, employment training, healthcare, assistive technology, and more.
For more information about IAble eligibility, benefits, and how to open an account, visit IAble.gov.
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