Supplemental Security Income (SSI) is available to disabled children and adults, or those over 65. However, in addition to meeting the SSA’s disability requirements, you must also meet income and asset requirements to be eligible.
What Are the Income Requirements for SSI?
In 2020, an individual who is applying for SSI must have no more than $783 per month, or $1,175 for a couple.
Are Certain Forms of Income Not Counted?
Certain types of income are excluded from your SSI limit. Such non-countable income includes:
- Tax Refunds
- Food Stamps (SNAP)
- State or Local Needs-Based Assistance
What Is the Asset Limit for SSI?
SSI recipients must have less than $2,000 worth of assets. For a couple, the asset limit is $3,000.
What Types of Assets Are Counted?
Resources that the SSA considers as assets include:
- Bank Accounts
- Life Insurance
However, there are a number of resources that the SSA does not consider as assets. Therefore, these will not be counted toward your asset limit. Examples of these include home, life insurance policies with combined values of $1,500 or less, household items and one vehicle which is used to transport the SSI beneficiary.
State Supplemental Payments
Some states also provide supplemental payments to SSI recipients. Michigan is one of these states. Your SSI income limit can increase with the amount that the state is supplementing.
Let The Disability Attorneys of Michigan Help You
Disability Attorneys of Michigan work hard every day helping the disabled of Michigan seek the Social Security Disability Benefits they need. If you are unable to work due to a physical, mental or cognitive impairment, call Disability Attorneys of Michigan now for a free consultation at 800-701-5524.