MSA 12-53 - State of Michigan - michigan 2025

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401(k)/457 Deferred Compensation General Information Employees in the Defined Benefit (DB) Plan can participate in the 401(k)/457 deferred compensation plan. In addition to the DB Plan, a deferred compensation plan allows members to contribute to a 401(k) plan, 457 plan, or both.
If you qualify for SSI, you get monthly payments to help you pay for your basic needs. A person who is single can get up to $967 per month in benefits. In Michigan, people who qualify for SSI also get an extra payment every three months of up to $42 and automatically get Medicaid coverage.
To learn more about these categories, read An Overview of Medicaid or visit Health Care Programs Eligibility on the Michigan Department of Health and Human Services (MDHHS) website. HMP has income limits, but no asset limits.
MSA numbers (Michigan Statutes Annotated, an alternative numbering system to MCL numbers) have been deprecated by the Legal Editing division of the Legislative Service Bureau and are no longer supported.
Countable vs. The value of countable assets are added together and counted towards Medicaids asset limit. This includes cash, stocks, bonds, investments, bank accounts (credit union, savings, and checking), and real estate in which one does not reside. In Michigan, IRAs are counted.
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The Healthy Michigan Plan does not have an asset test. Modified adjusted gross income must be at or below 133 percent of the Federal Poverty Level (FPL). Patient Protection and Affordable Care Act 1902(a)(10)(A)(i)(VIII) of the Social Security Act.
In general, the following are the primary exempt assets: Home, no matter what its value. Personal belongings and household goods. One car or truck. Income-producing real estate. Burial spaces and certain related items for applicant and spouse. Up to $1,500 designated as a burial fund for applicant and spouse.

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