When a person suffers from a permanent disability, there can be a lot of expenses for that person and the person’s family. There are medical costs, educational costs, transportation and housing costs all of which can add up, especially if the person is unable to work. In these cases, a person may qualify for supplemental security income from the Social Security Administration.
However, according to the SSA, only those people with limited resources and limited income qualify for SSI. This means that if people have more than a certain amount of assets, then they will not be able to qualify for SSI and may not have access to certain government benefits. For children or individuals the asset limit is $2,000 worth of assets and for couples, the asset limit is $3,000.
Under the law, assets include any personal property, life insurance, cars, real estate, investments, cash or bank accounts. Additionally, anything that the person owns that can be sold for cash is considered an asset. As this blog post explained, though, the ABLE Act has created a limited exception to this rule. Following the passage of the ABLE Act, families can save money on behalf of disabled individuals without affecting the person’s SSI eligibility.
In addition to having limited resources — or assets — people must have limited income in order to qualify for SSI. When determining income, the SSA will consider income from all sources. This can include any money that a person is able to earn from work, or any income that the person receives from other sources. These sources include workers’ compensation, family, Social Security or unemployment. Furthermore, the SSA will consider any free shelter or food that a person receives to be income as well.