DISABILITY SCOOP: SSI Increase Prompts Fresh Worries About Asset Limits
Supplemental Security Income (SSI) benefits are set to surpass $1,000 per month next year due to a cost-of-living adjustment, but the strict $2,000 asset limit for individuals—unchanged since the 1980s—remains in place. Advocates warn that this discrepancy creates a severe hardship and work penalty, as even modest savings for emergencies or a security deposit put beneficiaries at risk of losing crucial assistance like SSI and Medicaid. While bipartisan legislation like the SSI Savings Penalty Elimination Act has been proposed to raise the cap and adjust it for inflation, it has yet to advance in Congress.
