In celebration of the first national ABLE Savings Day August 14, people opening an eligible MiABLE disability savings account in August will receive up to a $100 match.
ABLE accounts are part of a savings program designed to ease the financial burden for people with disabilities and their families by allowing them to save for expenses without jeopardizing government assistance like Medicaid and Supplemental Security Income.
A $2,000 federal asset limit is imposed on people with disabilities who receive government benefits.
But MiABLE allows individuals who became disabled before age 26 and their families to save up to $18,000 annually in various investment options.
The Michigan Department of Treasury runs the program and reports 500,000 people in the state are eligible to open the MiABLE accounts but only one percent are currently enrolled.
More information can be found on the Michigan Department of Treasury website by searching MiABLE.
