MiABLE: Saving fund program for individuals with disabilities

Created in support of individuals with disabilities to maintain heath independence and quality of life.

In 2014, the federal government passed the Achieving a Better Life Experience (ABLE) act with the state of Michigan following suit by passing the Michigan ABLE (MiABLE) in 2015. The program began to accept enrollment to this program in November 2016. MiABLE was created to encourage individuals and families to save funds for the purpose supporting individuals with disabilities. It allows certain people with disabilities to have special savings accounts for disability related expenses without losing eligibilities under SSI, Medicaid and other public benefits dictated by assets.

The target audience for this MiABLE program are individuals that were disabled or blind before the age of 26 and are receiving (or entitled) to SSI or SSDI.

The MiABLE account is considered a 529 account. With the MiABLE, the first $100,000 will not be considered a resource when determining eligibility for SSI.  Once the account exceeds $100,000, it will affect the SSI cash payment of the individual but will not affect their Medicaid benefits. The distributions are not taxed if used for qualified disability expenses.

Qualified disability expenses as approved by the IRS code
  • Education
  • Housing
  • Transportation
  • Employment training and support
  • Assistive technology and personal support services
  • Health; prevention and wellness
  • Financial management and administrative services
  • Legal fees; expenses for oversight and monitoring
  • Funeral and burial expenses
  • And any other expenses that may be identified and approved by the IRS

Please note that distributions for housing expenses from the MiABLE account may be considered a resource when determining SSI as well as Medicaid benefits.

The MiABLE program is administered by the Michigan Department of Treasury’s Student Financial Services Bureau. To enroll or to learn more, visit the MiABLE website.

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