A new effort is underway to spread the word about a savings program for Michigan residents with disabilities.
Michigan ABLE is partnering with the Community Mental Health Association of Michigan in an effort to increase enrollment in MiABLE accounts. These accounts allow individuals with disabilities to save and invest without jeopardizing essential benefits like Medicaid and Supplemental Security Income.
“Financial security isn’t only about money,” said Community Mental Health Association CEO Robert Sheehan at a news conference Monday.
“It’s about mental and personal well-being. That’s true for all of us, by the way. That’s why MiABLE is such a valuable resource when it comes to people with disabilities. It enables them to save for the future without risking their benefit eligibility.”
Aaron Martinuzzi, a MiABLE account owner from Livonia, talked about his own experience.
“I had to be eligible for Social Security benefits, and we had to very closely watch my income and savings,” Martinuzzi said. “It was quite stressful. Once ABLE accounts became available, we worried much less.”
MiABLE estimates there are around 500,000 people in Michigan who qualify for the program, but only about 1% of them are enrolled.
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