ABLE Savings Account

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Overview
News and Updates
Frequently Asked Questions
ABLE Account Enrollment
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Qualified Disability Expenses
IL ABLE & Public Benefits
Performance Dashboard
Investment Policy Statement
Plan Disclosure Booklet

Save for Expenses. Build Greater Independence.

Living with a disability can bring many added costs. An IL ABLE Account gives eligible individuals and families a way to prepare for those expenses, save for future needs, and build greater independence with confidence.

What is an Illinois ABLE account?

An IL ABLE Account is a savings and investment account designed for eligible people with disabilities. It helps account owners set aside money for disability-related expenses while maintaining greater financial independence.

The account can be used to save for current needs and future expenses, including costs related to health, education, housing, transportation, assistive technology, and other qualified disability expenses.

Do I have to live in Illinois to open an IL ABLE Account?

No. You do not have to live in Illinois to open an IL ABLE Account. IL ABLE is available to eligible people with disabilities nationwide, so account owners may live in Illinois or another state.

Illinois residents may also be eligible for certain Illinois tax benefits when contributing to an IL ABLE Account.

What can I use an ABLE account for?

You can use an ABLE account to pay for qualified disability expenses. These are expenses that help support the account owner’s health, independence, or quality of life.

Examples of qualified disability expenses may include housing, transportation, education, therapy, health and wellness, assistive technology, everyday living costs, and other disability-related needs.

Are ABLE accounts tax-free?

ABLE accounts provide tax advantages for eligible people with disabilities. Earnings in an ABLE account can grow tax-free, and withdrawals are tax-free when the money is used for qualified disability expenses.

This can help account owners save for disability-related costs while keeping more of their savings available for current and future needs.

Can I choose how my ABLE account is invested?

Yes. An IL ABLE Account offers investment options so you can choose an approach that fits your savings goals, timeline, and comfort with risk.

Account owners can use these options to plan for short-term needs, long-term disability expenses, or both.

Can I use a debit card with an ABLE account?

Yes. IL ABLE may offer a checking option with a real-time debit card, giving account owners a convenient way to access funds for qualified disability expenses.

A debit card can make it easier to pay for everyday costs, manage spending, and track purchases connected to the account.

Are there Illinois tax benefits for an ABLE account?

Yes. Illinois residents who contribute to an IL ABLE Account may be eligible for Illinois tax benefits.

Account owners can also invite family and friends to contribute, allowing loved ones to help build savings for qualified disability expenses. This makes IL ABLE a useful tool for families who want to support a person with a disability while taking advantage of benefits available through the Illinois program.

Do ABLE accounts affect SSI or Medicaid benefits?

An IL ABLE Account can help people with disabilities save money without losing important benefits like SSI and Medicaid.

Money in an IL ABLE Account does not count toward the standard $2,000 asset limit for these benefits. If you receive SSI, you can have up to $100,000 in your IL ABLE Account before it affects your SSI benefits.

This means you can save for qualified disability expenses while protecting the benefits you depend on.

More people now qualify

  • IL ABLE is now available to individuals with disabilities who began before age 46. Previously, eligibility was limited to those whose disability began before age 26.
  • Because of this change, about 6 million more people nationwide, including an estimated 250,000 more Illinois residents, may now qualify.
  • Download a Flyer to share with your community about the ABLE Age Adjustment

Illinois Leads the National ABLE Alliance

  • Illinois leads the National ABLE Alliance, helping expand access to ABLE accounts and giving families more ways to save for disability-related expenses.
  • In Illinois, more than $120 million has been contributed to IL ABLE accounts (as of March 31, 2026). Total IL ABLE accounts grew to nearly 9,000, with an average account balance of $12,800. IL ABLE has helped many Illinoisans save far more than was possible before ABLE accounts existed. Funds can be used for a wide range of expenses, including transportation, housing, and daily living costs.
Button to open an IL ABLE account

IL ABLE Resources

Click the topics below to learn about the benefits of an ABLE Account:

Read the Plan Disclosure Booklet for detailed information about the Plan.

Investment Policy

The Illinois Achieving a Better Life Experience (“IL ABLE”) plan is sponsored by the State of Illinois and administered by the Office of the Illinois State Treasurer (“Treasurer”). IL ABLE is designed to be a qualified ABLE plan offered as part of the National ABLE Alliance. Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates have overall responsibility for the day-to-day operations, including investment advisory, recordkeeping, and administrative services for the IL ABLE plan.

Accounts in the IL ABLE plan are not guaranteed or insured by the State of Illinois, the Treasurer, the Trust, IL ABLE, the Program Manager, or any other entity (except as provided in the Plan Disclosure Booklet solely with respect to the FDIC-insured Checking Account Option). An Account Owner could lose money by investing in the IL ABLE plan. The Checking Account Option offers FDIC insurance up to $250,000, subject to certain restrictions. Interests in IL ABLE are municipal securities, and the value of the account will vary with market conditions and the performance of the investment options you choose.

An investor should consider investment objectives, as well as the risks, charges, and expenses associated with an investment in the IL ABLE plan before investing. This and other important information are contained in the Plan Disclosure Booklet online or by calling 888-609-8683.  You should carefully read the Plan Disclosure Booklet before investing.

Account Owners assume all investment risks and are responsible for any federal and state tax consequences. Participation in the IL ABLE plan does not guarantee that contributions and the investment return on contributions, if any, will be adequate to cover future expenses or that an Account Owner is eligible to participate in the IL ABLE plan.

Before investing in any ABLE plan, you should consider whether the state in which you reside and/or pay taxes offers an ABLE plan with favorable state tax incentives or other benefits that are only available through investment in that state’s ABLE plan. You also should consult your financial, tax, or other adviser to learn more about how state-based benefits, or any limitations, would apply to your specific circumstances.

This material is provided for general and educational purposes only, and is not intended to provide legal, tax, or investment advice or for use to avoid penalties that may be imposed under federal or state tax laws. This material is not an offer to sell or a solicitation of an offer to buy any securities.

Testimonials may not be representative of other customers’ experiences, as past performance or success is not a guarantee of future performance or success. 

Capitalized terms not otherwise defined in this statement have the meaning attributed to them in the Plan Disclosure Booklet.

Investments are not FDIC-Insured (except for the Checking Account Option). No Bank, State, or Federal Guarantee. May