MiABLE PROGRAM
NEW DISABILITY SAVINGS PROGRAM
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BY HILDI JOHNSON
Like most parents, Natasha Steele worries about her son’ s future.
A single mom who suffers from lupus, fibromyalgia and chronic fatigue syndrome, Steele struggles to make ends meet with a part-time job and the Supplemental Security Income she receives for her 4-year-old son, Keegan, who was born 10 weeks prematurely with multiple medical conditions, including cerebral palsy, hydrocephalus, chiari malformation, gastroparesis and visual impairments.
“ What would happen if something happened to me?” Steele said.“ It’ s a big fear for all parents of special needs children, especially single parents.”
A new disability savings program, the Michigan Achieving a Better Life
Experience( MiABLE) program, is helping ease some of Steele’ s concerns.
In announcing the launch of MiABLE on Nov. 1, Lt. Gov. Brian Calley said it’ s“ the most substantial reform for people with disabilities since the Americans with Disabilities Act was signed in 1990.”
MiABLE is a 529( A) saving account that offers investment and tax incentives for families and others wishing to save for people with disabilities.
ABLE accounts allow for savings up to $ 100,000 without compromising benefits from Social Security Disability Income, Medicaid, the Supplemental Nutritional Assistance Program or other state or federal assistance programs.
In addition, the funds are not taxed if they are spent on qualifying goods and services such as education, housing, transportation, employment training and support, assistive technology and personal support services, legal expenses for oversight and monitoring, and funeral and burial expenses.
“ By removing barriers, we can help all Michiganders live self-determined, independent lives,” Calley said.
Legislation creating MiABLE was introduced last year by Rep. Anthony Forlini, a Republican who represents Southeast Michigan’ s 24 th District, encompassing Macomb, Clinton and Harrison townships.
The Act was approved in October 2015, but the state needed one year to set up the infrastructure to support the program, according to Joe Aragona, the representative’ s legislative director.
“ Almost every state in the nation has
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Innovative Health- Winter 2017