NAMI Maine to Host a Conference on Savings Accounts

NAMI Maine is set to host an online presentation from 6:30-7:30 p.m. on Tuesday, March 1, on Achieving a Better Life Experience (ABLE) accounts, now available in Maine.

The presentation is in partnership with Bangor Savings Bank and the Maine State Treasurer’s Office.

Those interested can register at namimaine.org/events/ableme.

ABLE accounts help people with disabilities save money for qualified disability expenses, such as education, housing and transportation, according to a NAMI press release.

Money saved in an ABLE account does not count as a resource for means-tested public benefits, such as Supplemental Security Income (SSI), MaineCare, SNAP, and subsidized housing.

Representatives from the bank and the Treasurer’s Office will share information and answer questions about ABLE accounts in Maine.

Teresa Price of North Yarmouth is Treasurer of the NAMI Maine Board of Directors and Ambassador for the ABLE National Resource Center. Her 29-year-old son, Logan, was 18 and studying biomedical engineering when he was diagnosed with schizoaffective disorder. After a few years of living at home, he qualified for SSI and moved into supportive housing run by Shalom House.

“The ABLE account gives his dad and me peace of mind knowing that Logan will have funds to support himself if programs are interrupted,” Price said. “He can also save for a car or other major purchases without worrying about being declared ineligible for SSI.”

For more information on ABLE accounts in Maine, visit bangor.com.

NAMI Maine is affiliated with the National Alliance on Mental Illness, the nation’s largest grassroots mental health organization. NAMI Maine provides education, support and advocacy to help individuals and families impacted by mental health issues build better lives.