ABLE savings accounts

ABLE accounts are a new savings option for people with disabilities.

  • You can put up to $15,000 a year into this special bank account and earn tax-free interest.

  • This money will not affect government benefits like SSI and Medicaid (up to a limit of $100,000).

  • ABLE accounts are only for people who developed their disability before age 26. 

  • ABLE stands for "Achieving a Better Life Experience". 

Money in ABLE Accounts can be used for specific disability-related expenses, including:

Image showing disability related expenses that ABLE Accounts can cover including Housing, Transportation, Job Training, Health Expenses, Assistive Technology, Legal Expenses, Personal Support Services and Financial Fees.

 

 

Click on the box below to learn more:

ABLE stands for Achieving a Better Life Experience. 

ABLE accounts are a new savings option for people with disabilities.  A person with an ABLE account can earn tax-free interest on contributions of up to $15,000 per year - and up to $100,000 total.

This money can be used for disability-related expenses without affecting government benefits. 

For more information, contact the Louisiana Office of Student Financial Assistance:

www.able.osfa.la.gov

laable@la.gov

  

Sources:Greene (2015), State of Ohio Treasurer's Office (2016), the Arc

 

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