News and Updates from the Illinois State Treasurer's ABLE Plan
Explore important ABLE account facts about eligibility, saving, qualified disability expenses, benefits, and how ABLE accounts work.
Hello! I’m Elizabeth Hamilton, the new Enrollment Specialist on the IL ABLE team.
I am here to support you on your pathway to opening an IL ABLE Account for yourself or for someone with a disability that you assist.
Know Before You Go!
Going through the process of determination or re-determination of Medicaid benefits with the Illinois Department of Human Services is an experience that we all know can be stressful for families. So, if you own or manage an IL ABLE Account, know that Medicaid must not count ABLE Account assets as a resource in determining or re-determining Medicaid benefits.
Read More “Do IL ABLE Accounts Affect Medicaid Eligibility?”
Great news! Account Owners can save more in 2026! The Annual Contribution Limit for IL ABLE Accounts is increasing to $20,000.
Read More “Limit Increase is Great News for ABLE Account Owners”
Did your disability begin before your 46th birthday? Starting January 1, you may be eligible to own an IL ABLE Account and benefit from these 4 ABLE features.
Get Ready for ABLE Age Adjustment
On January 1, 2026, the age-of-disability-onset criteria for owning an IL ABLE Account will expand to include people who acquired their disability before age 46. (The current criteria are disability onset before age 26.) Approximately 250,000 more Illinoisans will become eligible to own a tax-advantaged IL ABLE Account to start saving and investing for disability-related expenses.
Good news for IL ABLE Account Owners! Effective September 1, 2025, the program management fee on IL ABLE Accounts was reduced by 0.02% basis points on the seven Asset Allocation Investment Options. This reduction lowered the total annual asset-based fee range from 0.30% – 0.36% to 0.28% – 0.34%.
A new school year is an important time for families of students with disabilities to think about education, transition planning, and future financial needs. An IL ABLE disability savings account can help eligible students save for education, assistive technology, health care, transportation and other qualified disability expenses.
Here are three ways parents, guardians and educators can include IL ABLE in a student’s financial and transition planning.
3 ABLE Act Provisions Made Permanent
Congress passed the ENABLE Act, and it was signed into law on July 4. The new law makes three ABLE account provisions permanent. These provisions were first approved in 2017 but were scheduled to expire at the end of 2025.
Read More “Congress Passes the ENABLE Act to Expand ABLE Account Benefits”
Starting January 1, 2025, IL ABLE Accounts have a higher Annual Contribution Limit. This is the total amount that can be added to the account during the calendar year from all sources, including the Account Owner, family members, friends, and others.
Read More “Save More in 2025: Accounts can receive a total of $19,000 for the calendar year”
Today, we celebrate the landmark legislation that paved the way for 8 million Americans with disabilities to save and invest for themselves, building quality of life and greater financial independence. On December 19, 2014, Congress unanimously passed the Stephen Beck Jr. Achieving a Better Life Experience Act (ABLE Act).