SPRINGFIELD, Ill. – More people with disabilities will gain access to a critical program allowing them to save for their future under legislation passed in the Illinois House with wide bipartisan support by state Rep. Kelly Burke, D-Evergreen Park.
“For people with disabilities and those who care for them, planning ahead and saving for the future is critical,” Burke said. “Without continuous access to medical care, treatments and supplies, it can be incredibly difficult for people with serious conditions to maintain independence and the quality of life that everyone deserves.”
House Bill 2837 makes it easier for people with disabilities who have state-appointed guardians to open, maintain and transfer funds to special savings accounts managed by the Illinois Treasurer’s office. Achieving a Better Life Experience (ABLE) Accounts are used to save and pay for disability-related expenses. Earnings made from investment in these accounts are tax-exempt, and account-holders are not at risk of losing eligibility for benefits programs based on funds they have saved in ABLE accounts.
“Families of people with disabilities have had the opportunity to open ABLE accounts for their loved ones to help them save for their futures. Unfortunately for individuals with state-appointed guardians, legal red tape has made it much more difficult for them to save,” Burke said. “Every person who can benefit from an ABLE account should have equal access to one, regardless of their family background, and I’m looking forward to expanding this opportunity for people who may need it the most.”