The Michigan Department of Treasury has announced Michigan’s participation in the National ABLE Alliance. ABLE stands for Achieving a Better Life Experience and works to create the most cost-effective and user-friendly ABLE programs for people with disabilities.
The MiABLE programs are financial accounts that allow users to save money, up to $100,000, that is not considered when applying for other federal or state benefits, like Social Security Disability Income, Medicaid, and the Supplemental Nutritional Assistance Program.
As one of the first states to launch an ABLE plan, MiABLE has more than $31.2 million in assets in over 6,300 accounts.
Eligible participants have to have been disabled before the age of 26. The money can be used for qualified disability expenses like education, housing, transportation, medical costs, assistive technology, and others.
Participation in the national ABLE program transfers the management of the funds to a new servicer and current participants will be notified.
MiABLE.org or 844-656-7225
Reporting for WGRT – Jennie McClelland