Qualified Expenses
Save for the things that you need today and want tomorrow
Use your account wisely
Most expenses are considered a qualified expense.
The money from your account can be used for everyday needs or unexpected events. The qualified expenses are geared toward improving health, independence, and quality of life, and include:
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
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 must provide proof of how you spent the money from your account (which you can track with your STABLE Visa® Card).
What if I buy something that doesn't qualify?
You’ll have to pay tax on investment growth, plus a 10% penalty on earnings for non-qualified expenses. 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.