(Radio Iowa) — State Treasurer Mike Fitzgerald says 273 Iowans who are intellectually or physically disabled have accounts in a relatively new state-run, tax-free savings program. Fitzgerald says a disabled person or a relative may contribute to an I-ABLE account. The money may be used a variety of things, like a specially-equipped vehicle or job training.

Many plan for the money to help a disabled adult son or daughter find somewhere to live after their parents pass away. Fitzgerald says nearly one-point-four million dollars has been invested in the program since it was established in early 2017 and a quarter of a million has been withdrawn. A disabled American usually loses their Social Security Disability and Medicaid benefits if they have more than two-thousand dollars in savings, but the I-Able program meets federal guidelines so that doesn’t happen. Iowa is among more than a dozen states with this kind of a savings program. Fitzgerald says I-Able gives those concerned about the well-being of a loved one the opportunity save for future disability-related expenses.