News and Updates from the Illinois State Treasurer's ABLE Plan
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?”
Watch how he “Makes It Happen with His IL ABLE Account”
Receiving public benefits shouldn’t be a barrier to working. Check out Michael’s story: he works and maintains his benefits while saving money with his IL ABLE Account.
This Athlete and Global Messenger is Building Physical & Financial Wellness On and Off the Field
When 21-year-old Special Olympics Illinois (SOILL) Global Messenger Michael Williams collaborated on an Autism Awareness Month video, he was filling pandemic time to build communications skills while waiting to return to in-person SOILL competition. “Michael is not as interested in the virtual activities, so he is looking forward to entering more Special Olympics events in-person,” said Dawn Williams, Michael’s mom, and coach of several of Michael’s teams.
Read More “Special Olympics Illinois & IL ABLE partner to help families”
Have you considered an Illinois ABLE “Achieving a Better Life Experience” account as part of your financial planning for families with a child with special needs or for individuals with disabilities?
Read More “5 Things Financial Advisors Must Know about IL ABLE Accounts”
An IL ABLE account can take away the worry of where to place a Stimulus Payment to protect SSI Benefits and provide flexibility.
Many people with disabilities received a Stimulus Payment this year (also known as an Economic Impact Payment) and are worried about how unspent funds might affect SSI Benefits.
Read More “SSI and Stimulus Payments: Will Your Benefits Be Affected?”
ABLE Accounts do not impact HUD Benefits
Many of you have been afraid to open an Illinois ABLE account out of fear that you will lose your Section-8 housing or other benefits. You wanted to wait until you heard from HUD before enrolling in ABLE. You do not need to wait to begin saving.
You will lose your benefits if you have an Illinois ABLE account?
If the symptoms of your disability were present before age 26 and your disability meets the definition used by the Social Security Administration, you qualify to open an ABLE Account. If your disability was diagnosed after age 26 but you have a written certification from a physician that it was present before age 26, you qualify to open an ABLE account.
Read More “Do You Qualify for ABLE? Tips to Get the Most Out of “A Better Life Experience” Accounts”