Senate Bill Looks at Raising $2,000 SSI Asset Limit

Legislation introduced in the the Senate would raise the $2,000 limit in Assets that’s a recipient can have.  It would be the first time the asset limit was raised since 1989.  Currently if a Supplemental Security Income (SSI) recipient has more than $2,000 in assets their social security benefits will be cut off.  If the bill becomes law the new limit would be $10,000

The bill will also remove restrictions on family members providing support for their loved ones who receive SSI.  Currently family members that help out their loved ones that receive $725 a month with food, financial or housing support results in that money being deducted from social security payments as it must be reported as income.

The bill was introduced by Senator Elizabeth Warren (D-MASS) and Senator Sherrod Brown (D-OHIO).

4 Replies to “Senate Bill Looks at Raising $2,000 SSI Asset Limit”

  1. No one should ever be cut off of any type of SSI benifits due to there ASSETS, no mater how much they have. You can not expect people who worked all there lives to live on there assets before getting help from SS. the meaning of Social security is social security.

  2. SSI is different from Social Security. SSI is for the severely impoverished, for example.
    Disclaimer: I’m just a citizen and not associated with this web site, blah blah talk to your lawyer blah blah blah.

  3. The author of this subject misquoted the amount of SSI that one gets as being disabled. It is $721.00 and not $725.00. I hope this bill passes both houses. It would help those who are having to pay other bills other than their normal living expenses. Under the law now, people who on SSI can afford to get their vehicles fixed if they breakdown. Perhaps someone needs a better vehicle. I also think that SSI needs to be raised at least another $150.00. Many states do not give extra money to help the disabled out and it is a big problem. With the cost of food these days, people who have to live on SSI cannot make it. There is no money left by the end of the month. SSI is not Welfare. This money comes from people who had worked that have died without anyone that can claim it as being disabled child or a spouse who already died. It is actually Social Security money that was already paid in. I just wanted people to understand that SSI is not Welfare. It does not come from Welfare and it is for Disability and Seniors who did not have enough credits on their own. Also Social Security sends out a pass card for those who want to return to work. Without good reliable transportation for people who live in rural America, it is hard to obtain work.

  4. I am guardian for two mentally disabled siblings. I think it would be wonderful for them to be able to save money. 10,000 cap is nothing these days. Keeping their cap at 2000.00 is difficult and leaves no room for emergencies or a trip or any of the things afforded normal folks. Some months I actually had to spend money in order to keep money at cap. When they have legal bills to up date guardian ships it will cost 1800 a year! Everyone gets some of their money except them!

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