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US Senate Bill Would Increase SSI Asset Limits

Posted Date: March 14th, 2014 | Categories: Social Security Disability


The Jones Law Group supports a new bill proposed in the U.S. Senate by U.S. Sen.

Elizabeth Warren, D-Mass. and Sen. Sherrod Brown, D-Ohio that would increase the

amount of cash or liquid assets individuals may have and still qualify for and maintain

Supplemental Security Income (SSI) benefits. 

 

 

Since 1989, individuals who receive SSI who have or accumulate $2,000 in cash or liquid

assets at any given time become ineligible for benefits.  The legislation, introduced late

last week, calls for that asset limit to increase to $10,000.

 

The bill also eliminates restrictions that currently disallow friends and family from

providing financial, food and housing support to those receiving SSI benefits and would

increase the amount of income beneficiaries could earn without losing out on benefits.

 

 

Currently, more than 8 million Americans receive SSI benefits and the maximum federal

benefit for an individual receiving SSI is $721 per month.  “SSI is a critical program that

helps millions of our poorest and most vulnerable citizens keep their heads above water,”

said U.S. Sen. Elizabeth Warren, D-Mass.

 

 

 



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