Qualified Expenses
Save for the things that matter most.
Use your account wisely
Most costs related to living with a disability qualify as an eligible expense.
The money from your account can be used for everyday needs or an unexpected turn of events. The eligible expenses are geared towards improving health, independence, and quality of life.
Living expenses
Education
Housing
Transportation
Employment, training, and support
Assistive technology
Personal support services
Health, prevention, and wellness
Financial management
Administrative services
Legal fees
Oversight and monitoring
Funeral and burial costs, and more
Keep track of your expenses
We don’t need to see your receipts, but the IRS might. You should keep documentation of your purchases in case the IRS asks for it, and you have to provide proof of how you spent the money from your account, which you can track with your Prepaid Card.
What if I buy something that doesn’t qualify?
You’ll have to pay tax on growth, plus a 10% federal tax penalty made on any earnings used to pay for non-eligible items. Also, keep in mind that any non-eligible withdrawals are considered income for the month and could count against your eligibility for Supplemental Security Income (SSI) benefits or Medicaid.
