What options for saving money does a disabled person receiving SSI benefits have for saving, given the $2000 assets cap?
Entitlement to Social Security benefits is an earned right. People can receive Social Security disability, retirement, or survivors’ benefits without regard to their resources. A claimant’s resources are considered under the SSI program, which is also administered by SSA. Unlike the Social Security program, SSI is a means-tested income maintenance program for aged, blind and disabled people whose incomes and resources, are below the levels established by law. SSI-which is paid from general revenues, rather than from earmarked employer and employee payroll taxes-is designed to help needy individuals meet the basic costs of food, clothing and shelter. For purposes of SSI eligibility, resources cannot exceed $2,000 for an individual or $3,000 for a couple. Congress established the resource limit as a reserve to meet emergencies and other expenses that are not covered by other public assistance programs.
Related Questions
- What options for saving money does a disabled person receiving SSI benefits have for saving, given the $2000 assets cap?
- How long do I have to wait after becoming disabled before I can file for Social Security disability benefits or SSI?
- Can a person receive SSI benefits if Drug Addiction and Alcoholism are a reason for their disability?
