In recognition of the 34th anniversary of the Americans with Disabilities Act (ADA) this month, the Michigan Department of Treasury is urging individuals with disabilities to open MiABLE savings accounts. MiABLE, which stands for Michigan Achieving a Better Life Experience, is designed to help people with disabilities save for current and future expenses without jeopardizing government assistance such as Medicaid and Supplemental Security Income.
Under current federal law, people with disabilities receiving government benefits face a $2,000 asset limit, making it difficult to save without risking their eligibility for essential support. MiABLE allows individuals who became disabled before age 26 and their families to save up to $18,000 annually in various investment options, without affecting their government benefits.
For more information, or to open a MiABLE account, visit: savewithable.com.
Reporting for WGRT – Choze Powell
