The Illinois State Treasurer’s Office recently announced that an estimated 250,000 Illinoisans with disabilities are now eligible to open ABLE accounts, allowing them to save and invest money without jeopardizing access to certain federal benefits.

The expanded eligibility is the result of a change to the federal Achieving a Better Life Experience (ABLE) Act. Previously, individuals were required to acquire their disability before age 26 to qualify for an account. Beginning in 2026, that age threshold has been raised to 46, broadening access to ABLE accounts for people with disabilities in Illinois and across the country.

ABLE accounts are designed to help individuals with disabilities save for important life expenses while maintaining eligibility for programs such as Supplemental Security Income or Medicaid. Prior to the creation of ABLE accounts, people with disabilities generally could not accumulate more than $2,000 in assets without putting those benefits at risk.

Supporters say the expansion will provide greater financial flexibility for people facing disability-related expenses, including housing, transportation, assistive technology, vocational training, and other quality-of-life needs.

More information about the program can be found here: illinoisable.com.