WAG 08-02-06-z
AABD Cash
Any income produced from an ABLE account must be exempt when eligibility for AABD Cash is determined. An ABLE account is a tax-exempt savings account established to provide secure funding for disability-related expenses for a client before the client turns 26.
Medical
The Achieving a Better Life Experience Act of 2014, better known as the ABLE Act, created tax-free savings accounts that could be used to pay for disability-related expenses without affecting an individual's eligibility for medical. 26 U.S.C. § 529A, and 89 Ill. Adm. Code §113.141.
Note: Only individuals whose disability occurred prior to their turning 26 years of age can hold ABLE accounts.
