New program seeks to help those with disabilities save their money

moneyMichigan is now the fifth state in the U.S to launch a savings program for people with disabilities.

The MI-ABLE program gives those with a disability a savings account. The savings accounts offer special benefits like tax incentives and are not considered when they are applying for federal and state benefits.

Users can save up to 100-thousand dollars in their accounts without losing other financial disability benefits.

Kathleeen Wochaski is a 2nd grade teacher at Cherokee Elementary School in Clinton Township. Her now 22-year old son has physical disabilities and a cogitative impairment. She says the new program gives her son a new level of independence.

“It’s important because it’s a next step in allowing everybody the freedoms that – that we have as Americans.”

The new savings accounts are available right away and users can sign up on the M – I – ABLE website.