Agency requesting higher asset limits for disability benefit recipients

May 16, 2013

An independent federal agency is urging President Obama's administration to raise limitations imposed on recipients of Supplemental Security Income benefits. The National Council on Disability (NCD) was formed in 1978 to promote the rights of individuals with disabilities by advising the White House, Congress and federal, state, local and tribunal agencies regarding disability issues such as:
- Policies
- Programs
- Practices
- Procedures

The NCD also works to enhance equal opportunities for people with disabilities by accumulating and analyzing data, identifying and promoting solutions and creating tools to implement changes that will help those who are faced with challenges due to their disabilities.

Supplemental Security Income (SSI) is a benefit available to qualified individuals who are either blind, suffer from a long-term disability or are age 65 or older. Such individuals must also have limited income and other financial resources. SSI differs from Social Security benefits in that it is not based on a prior work history of the individual or his or her family.

Supplemental Security Income asset limitations

Last month, the NCD began promoting a change to the asset limits imposed on people who receive SSI. Since 1989, individuals who receive SSI benefits cannot have more than $2,000 in assets in their own names. If the value of a recipient's "resources" exceeds the threshold at any time, he or she will not receive benefits for that month. In order to qualify for benefits the next month, he or she must get rid of the resource that pushes him or her over the limit.

Resources include such assets as the following:
- Cash, bank accounts, stocks and bonds
- Real estate, cars and personal property
- Life insurance or other assets that can be redeemed for cash or used in exchange for food or lodging
- Deemed resources -- a portion of assets belonging to a spouse, parent, sponsor or that person's spouse

According to the NCD, of all the different types of Social Security beneficiaries, SSI recipients are most likely to suffer from high levels of poverty. In order to battle poverty for these people, the NCD is requesting that their resource levels be raised to $10,000. Such a change would significantly affect SSI beneficiaries, as it would allow them to work and earn a partial income. Additionally, an increase in the asset limit would allow them to maintain savings accounts, thus guarding them from pending federal aid cuts.

Legal help is available

If you or a loved one suffers from a disability, is blind or over the age of 65, consult a disability lawyer to find out if you qualify for SSI benefits. An attorney knowledgeable about Social Security claims may be able to help you obtain benefits to which you are entitled.

Article provided by Robert A. Koenigsberg Law Offices
Visit us at www.nyworkerscomplawyer.com