SSI Asset Limits Explained: What Counts, What Doesn't, and How to Stay Compliant

Key Points

• The SSI asset limit is $2,000 for individuals and $3,000 for couples.
• Your home, one vehicle, and personal belongings are typically excluded.
• Going over the limit can result in loss of benefits.
• ABLE accounts and special needs trusts can help you save without affecting eligibility.

Understanding the $2,000 Limit

SSI is a needs-based program, meaning you must have limited income and resources to qualify. The resource limits are:

• $2,000 for an individual
• $3,000 for a couple (both receiving SSI)

These limits have not been updated since 1989 and do not adjust for inflation. Social Security checks your resources on the first of each month.

What Counts as a Countable Asset

Countable resources include things you own that could be converted to cash:

• Cash on hand
• Bank accounts (checking, savings, CDs)
• Stocks, bonds, and mutual funds
• Real estate (other than your primary home)
• Second vehicles
• Life insurance with cash value over $1,500

What's Excluded from the Asset Limit

Many important assets don't count toward the $2,000 limit:

• Your home: Your primary residence and the land it sits on.
• One vehicle: Regardless of value, if used for transportation.
• Household goods: Furniture, appliances, and personal items.
• Burial funds: Up to $1,500 set aside for burial expenses.
• Life insurance: Policies with face value under $1,500.
• ABLE account funds: Up to $100,000 is excluded from SSI asset limits.
• Special needs trusts: Properly structured trusts don't count.

What Happens If You Go Over

If your countable resources exceed the limit on the first of any month:

• You become ineligible for SSI for that month.
• If you received benefits while over the limit, you may owe an overpayment.
• You'll need to spend down below the limit to regain eligibility.
• Social Security may require documentation of how you reduced your resources.

Strategies to Stay Compliant

Here are ways to manage your finances while staying under the asset limit:

• Open an ABLE account: Save up to $100,000 without affecting SSI eligibility.
• Establish a special needs trust: For larger amounts, a properly structured trust can hold assets.
• Spend down on exempt items: Use funds for home repairs, medical equipment, or prepaid burial plans.
• Pay bills in advance: Prepay rent, utilities, or other necessary expenses.
• Track your balance: Monitor your account regularly, especially before the first of each month.

ABLE Accounts and SSI

ABLE accounts are one of the best tools for SSI recipients who want to save:

• The first $100,000 in an ABLE account is excluded from SSI asset limits.
• Funds can be used for qualified disability expenses (QDEs).
• Many states allow out-of-state residents to open accounts.
• Contributions up to the annual gift tax exclusion are allowed.

Learn more about ABLE accounts in our detailed guide.

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