Through Illinois ABLE, individuals and families can save up to $14,000 each year in a federally tax-advantaged savings program and invest those funds for disability-related expenses. Illinois ABLE works like the 529 College Savings program – using the program does not put federal means tested benefits at risk.

To qualify for the program, individuals must have been disabled before the age of 26. They must be entitled to benefits based on disability or blindness under Title II or XVI of the Social Security Act or have a disability certification on file with the Treasury Secretary.

This program is part of the National ABLE Alliance, which includes 14 states and is administered by the State Treasurer.

ABLE funds can be used for expenses related to disability or blindness. This includes expenses for housing, transportation, education, health, prevention and wellness, assistive technology and personal support services, employment training and support, financial management and administrative services , oversight and monitoring, legal fees, and funeral and burial.

Money that is deposited into an ABLE account remains under the account owner’s control. State agencies and the treasurer’s office are not able to apply the funds for their own use.

For more information about the program, click here. To sign up for an ABLE account, click here.

On Tuesday, State Senator Laura Murphy presented officials from the Village of Schaumburg with a Senate recognition for being named the ninth best place to live by Money Magazine.

“I know that our district is one of the best places to live. I’m glad that places like Schaumburg and Des Plaines are getting the recognition they deserve,” Murphy said.

Murphy thanked the elected officials for their work along with community and economic development organizations, schools, the art community, and public safety officers to make Schaumburg a great place to live and work.

Money Magazine highlighted Schaumburg’s economic and manufacturing prowess. The article also noted the amenities that Schaumburg offers, such as theater performances, one of the largest shopping centers in the country, and a Town Square that hosts farmers’ markets, concerts and other events. Schaumburg is also home one of the largest public libraries in the State of Illinois.

The City of Des Plaines was also recognized in Money Magazine as the 35th best place to live.

The rankings were based on quality of life, affordable homes, the health of the economy, public education, crime and amenities in places with a population between 10,000 and 100,000.

You can read the magazine’s full report here.

The photo is courtesy of the Village of Schaumburg.

Senate moves to override governor’s veto of SB 321

SPRINGFIELD — Taxpayers and Medicaid recipients would benefit from a measure sponsored by State Senator Laura Murphy (D-Des Plaines) that would provide increased transparency to the Department of Healthcare and Family Services Medicaid managed care program. The Senate voted to override the governor’s veto of this legislation today.  

“The governor attempted to put a multibillion dollar industry before the needs of taxpayers and Medicaid recipients,” Murphy said. “This legislation works to ensure that contractual requirements are met by Medicaid managed care organizations, that the program runs cost-effectively and that participants receive the best care possible.”

Senate Bill 321 would require the auditor general to audit the Department of Healthcare and Family Services Medicaid managed care program. Performance audits can only be conducted at the request of the General Assembly or the Audit Commission and generally take one year to complete. The auditor general completes financial audits yearly and compliance audits every two years for most agencies.

“The governor claims that a performance audit is ‘expensive’ and ‘unnecessary,’” Murphy said. “I believe that transparency and ensuring our tax dollars are being properly spent is worth the cost of investigating. It is absurd that a governor that declares that Illinois is ‘broken’ is unwilling to investigate if one of its largest contracts is running properly.”

Senate Bill 321 now moves to the House for further consideration.

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