This State-Backed Savings Program for Disabled Loved Ones Doesn’t Jeopardize Other Benefits

Taking care of kids is expensive. Children with disabilities face even more costs between long term health care, housing, transportation and specialized services.

Many government programs are there to help these children, even into adulthood. But prior to 2016, anyone with any kind of savings for their child risked losing out on these extra benefits.

Now MiABLE allows families to plan and save for their child’s future expenses, without sacrificing other benefits.

They’ve been helping thousands of Michigan families save since 2016.

Girl with therapy dog using Miable savings program.

What is MiABLE?

MiABLE is a savings and investment program offered by the state of Michigan that empowers people with disabilities and their families.

With MiABLE, you can save for your child’s care without jeopardizing their insurance benefits, Supplemental Security Income, Medicaid, or the beneficiary’s employment.

(Prior to ABLE, individuals risked losing government disability benefits if their assets exceeded $2,000. )

Benefits of MiABLE

Allows family members, guardians &, powers of attorney and others to open and manage an account on behalf of a disabled person.
Savings can pay for a wide range of expenses such as education, housing, transportation, medical costs, employment training, assistive technology and personal support services.
Access funds at any time.
Savings grow tax-free and distributions—including any earnings—are not taxed if used for qualified disability expenses.
Michigan state income taxpayers can claim up to a $5,000 deduction for single filers and $10,000 for joint filers for MiABLE contributions.

How does MiABLE Work?

Savings are accessible via a MiABLE debit card. And you can access them at any time!

You can put in up to $16,000/year, and there is no SSI penalty if the account has less than $100,000 in it.

Savings can be used on services like:

Education
Health and Wellness
Housing
Transportation
Legal fees
Financial management
Employment training & support
Assistive technology
Personal support services
Oversight & Monitoring
Funeral & burial expenses

Eligible individuals can open the account for themselves, or an authorized individual can open an account on their behalf. (And you don’t have to be a Michigan resident to use a MiABLE account!)

There are a few requirements that individuals with disabilities must meet to be able to have an account.

“Individuals are eligible to open and fund a MiABLE account if the onset of their disability occurred before age 26 and they are entitled to collect Social Security Disability Insurance or Supplemental Security Income – though they do not need to be receiving either of these benefits to qualify for an account.”

Read more on MiAble eligibility requirements.

Watch Your MiABLE Account Grow When Friends & Family Contribute

Once you set up the account, you can make a one-time contribution to the account or set up recurring payments.

And anyone can contribute to a MiABLE account!

Ugift® is an easy, free-to-use service that lets friends and family contribute directly into a loved one’s MiABLE plan account in lieu of traditional gifts.

When Christmas or birthdays roll around, invite loved ones to contribute to the MiAble fund through Ugift. Just get a personalized Ugift code, and direct family to UgiftABLE.com to make a contribution.

Is MiAble the Same as a Special Needs Trust?

A MiABLE account is a complement to a special needs trust, not a replacement.

Benefits associated with a MiABLE account include cost-effectiveness, broader spending power, easy account access, a Michigan tax deduction, no federal tax on earnings and the ability to crowd-fund accounts.