Exceptions to SSI income and resource limits (2024)

FAQs

What are the resource exclusions for SSI? ›

Resource limit exceptions

Generally, things that don't count toward your resource limit include: Your home and the land it's on, as long as you live there. 1 vehicle per household. Most personal belongings and household goods.

For example, if someone pays an individual's medical bills, or offers free medical care, or if the individual receives money from a social services agency that is a repayment of an amount he/she previously spent, that value is not considered income to the individual.

Remember, you cannot have more than $2,000 in resources as an individual, or $3,000 as a married couple.

Start with your total gross earned income (earnings before taxes are deducted). Subtract anything left over from that $20 general exclusion. Then subtract another $65, the earned income exclusion. Subtract any Impairment Related Work Expenses (more about these on the SSI and Work page).

SSI is generally for individuals who don't earn more than $1,971 from work each month.

Primary tabs. Countable resources are any assets or personal property included within a cap for receiving welfare aid from the government. The term usually refers to some kind of resource like jewelry that requires being sold before being used as income.

We may reduce your Supplemental Security Income (SSI) payment by one-third if you live in another person's household throughout a month and you do not pay for the food and shelter you get from the household.

You Aren't Disabled, or Old Enough

To qualify for benefits, you need to be 65 years of age or older, totally or partially blind, or have a medical condition that stops you from working and will last at least 12 months or result in death. If you do not meet these requirements, you will be disqualified.

Pension payments, annuities, and the interest or dividends from your savings and investments are not earnings for Social Security purposes.

How often does SSI check your resources? ›

WHEN DO WE CONDUCT A REDETERMINATION? We redetermine eligibility and benefit amounts of most recipients once every 1 to 6 years.

For individuals seeking Supplemental Security Income (SSI) benefits, it is important to know that these accounts are treated as an asset, which can result in ineligibility for SSI. 401(k) plans are counted as a resource under the federal rules.

SSI beneficiaries may have no more than $2,000 in assets for individuals and $3,000 for couples, with certain exceptions.

The types of earnings (or compensation payments) that are excluded from Social Security wages include: Tips (if they total less than $20 per month) Reimbursed business travel expenses. Employer-paid health or accident insurance premiums.

An individual can spend their SSI monthly benefit in any way they see fit. But remember to spend this money wisely. It's best to spend your SSI monthly benefit on basic necessities and paying off bills. If there is money left over, you may spend your monthly benefit on any other entertainment or activity of leisure.

How can inheritance affect SSI eligibility? SSI benefits have extremely strict limits on the amount of assets, or countable resources , you can have. The countable resource limit is $2,000 per individual or $3,000 per couple.