Summertime means fun and sun. Your IL ABLE account can help make it special!
Are you looking to have a great summer? Many IL ABLE Account Owners are considering summer activities and purchases that will help improve health, build independence and, most certainly, increase quality of life. You will need to cover those expenses, and funds contributed to your IL ABLE account– by you, friends or family – may be able to help.
Here are some activities that Account Owners and their families may have this summer that will improve health, independence, or quality of life:
- Going to a summer program at a park district, school, or agency.
- Paying for a therapeutic or special needs summer camp.
- Taking a bus, cab, rideshare or train to get to camps or programs.
- Buying a new pair of gym/walking shoes, swimsuit, ball, bat, racquet, or other gear.
- Taking a summer class such as arts & crafts or cooking to build new skills.
- Tutoring or an academic class to keep learning when school is on break.
- Buying a new computer to join online classes or communicate with others.
- Visiting a museum or zoo to learn about our world.
Funds in your IL ABLE account could be used to cover these activities and others. What does that mean? Money in your IL ABLE account can be withdrawn, tax free, for Qualified Disability Expenses or QDEs. The United States Department of the Treasury says that the definition of what is a QDE may be construed broadly to include expenses that help maintain or improve health, independence, or quality of life of the IL ABLE Account Owner.
Also, did you land a summer job? Did you know that you can easily have your paycheck directly deposited into your IL ABLE account and help prevent your assets from exceeding the $2,000 SSI asset cap. Call IL ABLE Customer Service at 888-609-8683 to learn how to do it.
What ideas do you have for how you will use your IL ABLE account this summer? Write to us at firstname.lastname@example.org and you might be featured in an upcoming accessABLE News & Updates.
Find quick answers to your ABLE questions with IL ABLE FAQs.
Visit IL ABLE at illinoisable.com.