Would info from this site help?
http://www.ablenrc.org/about/what-are-able-accounts
There are videos of webinars, FAQs, other resources.
This is what it says about qualified expenses, which, honestly, leaves a little room for interpretation IMO.
Which expenses are allowed by ABLE accounts?
A "qualified disability expense" means any expense related to the designated beneficiary as a result of living a life with disabilities. These may include education, housing, transportation, employment training and support, assistive technology, personal support services, health care expenses, financial management and administrative services and other expenses which help improve health, independence, and/or quality of life.
I have looked into the accounts a bit for my disabled brother (quadriplegic at 17) but we have yet to decide anything or open one. The main reason we want to do it is because of the rules around social security benefits that basically don't allow him to have any substantial savings.
Believe me, I already saw that, as well as what's been posted on Fidelity's website but it's very vague. For example:
https://www.fidelity.com/able/attainable/using-your-account#What are "qualified disability expenses"?
Qualified disability expenses are any expenses for the benefit of the account owner in maintaining or improving his or her health, independence, or quality of life. These expenses include, but are not limited to, education, housing, transportation, employment, training and support, assistive technologies and related services, personal support services, or health and basic living expenses.
Notice how it says "these expenses include, but are not limited to". What the hell does that mean?!?! When someone at Fidelity says I can use it for rent, food and utilities, and then a financial adviser tells me otherwise I'm at a loss. The Fidelity guy even told me I could use it for cable and phone (I have my doubts).
Also this:
https://www.fidelity.com/able/attainable/using-your-account#The Social Security Administration has stated that for many qualified disability expenses, you don't need to spend the money in the same month in which you withdraw it from your Attainable account. If you choose to do that, you must maintain the Attainable account while the withdrawal is not spent, be able to identify the money, and intend to use the money for a qualified disability expense.
However, for housing related expenses, you must spend the money on the housing expense in the same calendar month in which you withdraw it from your Attainable account. If these conditions aren't met, the withdrawal may be counted as a resource and could impact SSI benefits.
After the money has been withdrawn (but before it's spent), you can maintain the money in separate account such as a personal checking account or a Fidelity Cash Management Account.
If I take out $1000k out of the account and only $550 is for rent, how do they know which money I used is for rent? This is where it gets confusing- doesn't SSI require I use the money out of my disability for rent
first otherwise it's considered "in kind" support? According to Fidelity that's not the case with ABLE- I can use either. Also makes no sense.
Seriously, there needs to be a detailed list of exactly what expenses are covered. I'm sure come the end of the year the IRS and SSA will be more exacting than what I've found so far.
