Supplemental Security Income (SSI) is a disability benefit paid to individuals whose household income and assets fall below a certain level. This is a different benefits from Social Security disability insurance benefits (SSDI).
SSI is a needs based program with strict limits on the amount of income and assets that you can have and remain eligible for the program. In 2017, your countable monthly income may not exceed $735 per month for an individual, or $1,103 for a married couple.
Social Security will also count certain assets against you when making the determination of whether you are financially eligible for the program. If an individual has assets that exceed $2,000 or a married couple have assets exceeding $3,000 then you will be ineligible for SSI no matter your disability. Assets that count against you include:
- money in a checking or savings account
- stocks and bonds
- vehicles in the household, excluding the first vehicle
- real estate, other than the home the disabled individual lives in
- household goods and personal effects over $2,000
- cash value of life insurance policies that are over $1,500
Social Security does not take into account the following assets:
- your home
- one vehicle
- burial savings
- certain support payments
- ABLE accounts up to $100,000
The attorneys of Casper, Casper & Casper can help you with your SSDI or SSI claims. With over 85 years of combined experience and offices located I n Middletown, Hamilton, Cincinnati & Dayton, Casper, Casper & Casper may be the difference between winning and losing your claim. Please contact the attorneys at 513-909-9999 or 937-909-9999 and visit them at www.casperinjury.com to set up your free consultation.