ABLE Savings Account
Save for Expenses. Build Greater Independence.
Living with a disability can bring many added costs, but you do not have to plan for them alone. Sponsored by the State of Illinois and administered by the Office of the Illinois State Treasurer, an IL ABLE Account can help you save for today’s expenses, prepare for future needs, and build greater independence with confidence.
Many savers are already using IL ABLE to set money aside for disability-related expenses. As of March 31, 2026, more than $120 million had been contributed to nearly 9,000 IL ABLE accounts, with an average account balance of $12,800.
These savings can help cover needs such as transportation, housing, daily living costs, and other expenses that support your health, independence, and quality of life.
Frequently Asked Questions
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.
Who is eligible for an IL ABLE Account?
IL ABLE is now available to eligible individuals with disabilities who developed their disability before age 46. Previously, ABLE account eligibility was limited to people whose disability began before age 26.
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, whether they live in Illinois or another state.
Illinois residents who contribute to an IL ABLE Account may also be eligible for certain Illinois tax benefits.
- Learn more: Get started with 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.
- Learn more: Review examples of Qualified Disability Expenses and how ABLE funds can support daily life and independence.
Who can contribute to an ABLE account?
The Account Owner, family members, friends, and others can contribute to an ABLE Account using Ugift. Account Owners can invite loved ones to contribute, making it easier to save for qualified disability expenses.
Contributions can help cover everyday needs, future expenses, and achieve greater financial independence.
- Learn more: See the different ways you, family members, or others can contribute to an ABLE Account.
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.
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 save up to $100,000 in your IL ABLE Account before it affects your SSI benefits.
- Learn more: See how an IL ABLE Account can help protect your benefits while you save for qualified disability expenses.
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.
IL ABLE Resources
- accessABLE News & Updates
- IL ABLE Plan Disclosure Booklet
- ABLE Consortium Trust Financial Statements
- National ABLE Alliance – Investment Policy Statement
- Printable Flyer
Read the Plan Disclosure Booklet for detailed information about the Plan.
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