SP ONSOR SP OTLIGHT
MiABLE Helps Individuals Gain Independence Able to dream, able to plan, able to save — that’s what MiABLE promises individuals with disabilities and their families.
P
eople with disabilities hear enough about what they’re not able to do. It’s time to talk about what they are able to do and how MiABLE - Michigan’s 529 savings program for individuals with disabilities and their families - can help them get there. Finances can limit attempts to achieve independence, health and quality of life, but MiABLE is helping to change that. Someone with a disability or their family member can open a MiABLE account and start on the path to saving right away. A MiABLE account acts in addition to, not in replacement of, government programs like Medicaid or Supplemental Social Security Income. That means MiABLE account holders can save without losing their benefits. A MiABLE account can also be used in combination with a special needs trust for those who have one.
MiABLE account holder Edward Lofton, 31, is using his MiABLE account to save for a car, travel and, someday, buy his own home. As a person with autism, Lofton’s big plans seemed impossible before MiABLE came along. That’s because he, like many others with disabilities, was limited to accumulating assets of just $2,000 or risk losing government benefits. Now, thanks to MiABLE, Lofton’s dreams are in reach.
WHAT CAN FUNDS BE USED FOR?
He has a job at Ford’s Advanced Engineering Center in Dearborn and is saving his money in his MiABLE account for his first car. “[I want] something good on gas,” Lofton said. He also earns enough money at his job to contribute to the household
MiABLE savings can be used on everything from buying or renting a home to making home improvements and for college tuition, transportation and more.
he currently shares with his mother, paying his share of living expenses. One activity Lofton enjoys in his free time is traveling. He also uses his MiABLE account savings to take exciting trips and visit destinations he’s always dreamed of. According to his mother, Joanna, “[Edward] splits the costs on the trips we take.” The two recently traveled to Nashville and Milwaukee, and Edward picked up his portion of the
expenses. The next trip on his itinerary is Trinidad in South America. Joanna Lofton is grateful for the full life and independence her son has found. “Without MiABLE,” she said, “this never would have happened. MiABLE gave my son the opportunity to hold a job and provide a decent life for himself.” USING MIABLE FOR UNEXPECTED NEEDS AND EXPENSES
Lofton isn’t the only one using his MiABLE savings account to pay for everyday expenses. Ivy Filcik and her
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January 2024
