What are the Assets that count for SSI Disability?
The SSI disability program is a need based disability program; therefore like other need based programs it has a resource limit. Resources, of course, means assets. Currently, the resource limit for an individual applying for SSI benefits is two thousand dollars and the couple's resource limit is three thousand dollars.
Note: Countable assets are a factor of eligibility for SSI only. There is no asset limit for
The following are not counted toward the SSI resource limit:
1. The home you live in and the land it is on;
2. Your household goods and personal belongings (i.e. wedding or engagement ring);
3. Life insurance policies with a combined cash value of $1500.00 or less;
4. Grants, scholarships, fellowships, or gifts set aside for education are not counted for nine months after receiving them;
5. One vehicle, regardless of value, if you use it for transportation for you or family;
6. Burial spaces for you or your immediate family;
7. Burial funds set aside for you or your spouse in the amount of $1500.00 or less;
8. Retroactive Social Security Disability or SSI disability benefits (including SSI installment payments) are excluded for nine months following their receipt.
About the Author: Tim Moore is a former Social Security Disability Examiner in North Carolina, has been interviewed by the NY Times and the LA Times on the disability system, and is an Accredited Disability Representative (ADR) in North Carolina. For assistance on a disability application or Appeal in NC, click here.
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