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How It Works

About Louisiana ABLE

The Louisiana ABLE program makes it easier for people with disabilities-and those who support them-to save for disability-related expenses while preserving important benefits like SSI and Medicaid.

Whether you're saving for everyday expenses like housing or transportation, or planning for the future, Louisiana ABLE offers flexible investment options and tax advantages that support each person's unique needs.

View full eligibility guidelines

Why save with LA ABLE?

An ABLE account provides tax advantages and other benefits that can help people with disabilities achieve financial independence and peace of mind.

  • Maintain current disability benefits

    Savings in an ABLE account do not affect eligibility for federal disability benefits, including SSI (up to $100,000), SSDI, Medicaid, and HUD.

  • Save with tax advantages

    Any earnings on investments are tax deferred and qualified withdrawals are tax-free.1

  • Complement other savings

    LA ABLE savings can be used in addition to, or in place of, a special needs trust.

How ABLE protects disability benefits for those who rely on them

  1. LA ABLE account balances of $100,000 or less are excluded from the Supplemental Security Income (SSI) resource limit.
  2. Only the amount that exceeds $100,000 is counted against the limit, along with any assets held in non-ABLE accounts.
  3. If the account balance exceeds the SSI resource limit, SSI benefits will be suspended, not permanently canceled. Beneficiaries will not lose other benefits like Medicaid or Social Security Disability Insurance (SSDI).
  4. Other protected benefits include Supplemental Nutrition Assistance Program (SNAP), Temporary Assistance for Needy Families (TANF), housing assistance programs, and federal financial aid for higher education.
Note: You don't need to receive disability benefits to have an ABLE account.

Who can open an account?

It’s simple to open an ABLE account for yourself or on someone else's behalf. We also make it easy for organizations who are managing multiple ABLE accounts.

  • An Eligible Individual

    An eligible adult who has legal capacity can open and manage the account.

  • An Authorized Individual

    If an Eligible Individual is unable to open or manage their own account, an agent under power of attorney may do so on their behalf. If no agent is designated, one of the following individuals, listed in order of priority, may also serve as an Authorized Individual:

    • A conservator or legal guardian
    • Spouse, parent, sibling, or grandparent of the Eligible Individual, or
    • A representative payee appointed for the Eligible Individual by the Social Security Administration (SSA).

  • An Entity or Organization

    An Entity is any organization that has been approved as a designated account manager and given authority to manage ABLE accounts on behalf of multiple ABLE account holders.
    LA ABLE makes it easy for entities to set up their own profile so they can open and manage ABLE accounts for multiple savers from one login.

1 Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as applicable state and local income taxes.