State officials have launched I-Able — a new savings plan for Iowans who want to save for the care of a mentally or physically disabled family member. State Treasurer Michael Fitzgerald says Iowa is partnering with 14 states to offer this program.
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Fitzgerald says I-Able gives Iowans concerned about the well-being of a loved one the opportunity save for future disability-related expenses.
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Savers will get a tax break, similar to the “College Savings Iowa” accounts Fitzgerald’s office also manages. In addition, these I-Able savings accounts won’t make the Iowan ineligible for Social Security Disability benefits or Medicaid.
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