A resource is money as well as something that you own and can turn into cash. Examples ofresources are property, stocks, bonds, and bank accounts.
WHY ARE RESOURCES IMPORTANT IN THE SSI PROGRAM?
Supplemental Security Income (SSI) is a needs-based program.To get SSI, your countable resources must not be worth more than $2,000 for an individual or $3,000 for a couple. We call this the resource limit.
Countable resources are the things you own that count toward the resource limit. Many things you own do not count.
WHAT THINGS DO NOT COUNT TOWARD THE RESOURCE LIMIT?
The following things generally do not count toward the resource limit:
the home you live in and the land it is on;
one vehicle, if you or a member of your household use it for transportation;
household goods and personal effects;
life insurance policies you own with a combined face value of $1,500 or less;
burial plots or spaces for you or your immediate family;
burial funds of up to $1,500 each for you and your spouse's burial expenses;
Up to $100,000 of funds in an Achieving a Better Life Experience (ABLE) account established through a State ABLE program (see the Spotlight on ABLE Accounts).
There are other things you own that may not count as resources for SSI. Sometimes, you might be able to get monthly benefits even if you own things that put you over the resource limit.
THIS INFORMATION IS GENERAL. FOR MORE INFORMATION, CALL 1–800–772–1213 (TTY 1–800–325–0778), VISIT OUR WEBSITE (www.ssa.gov) ON THE INTERNET, OR CONTACT YOUR LOCAL SOCIAL SECURITY OFFICE.
Supplemental Security Income (SSI) is a needs-based program. To get SSI, your countable resources must not be worth more than $2,000 for an individual or $3,000 for a couple. We call this the resource limit. Countable resources are the things you own that count toward the resource limit.
Countable resources include cash, bank accounts, retirement savings, stocks, mutual funds, savings bonds, life insurance, household goods, burial funds, and more, as well as the resources of parents, spouses, and immigration sponsors, in many cases.
The eAFI process uses the eAFI subsystem in the SSI Claims system and the e4641 website to automatically request and view bank account balance data to help reduce payment errors related to financial accounts. Electronic verification is the preferred method to verify checking and savings accounts.
SSI stands for Supplemental Security Income. Social Security administers this program. We pay monthly benefits to people with limited income and resources who are blind, age 65 or older, or have a qualifying disability. Children with disabilities or who are blind may also get SSI.
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.
Introduction: My name is Dean Jakubowski Ret, I am a enthusiastic, friendly, homely, handsome, zealous, brainy, elegant person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
the home you live in and the land it is on;