SSI Savings Penalty Elimination Act
This bill increases resource limits used to determine eligibility for the Supplemental Security Income (SSI) program. SSI is a federal assistance program that provides monthly cash payments to aged, blind, or disabled individuals with limited income and resources. Specifically, the bill increases the resource limits from $2,000 to $10,000 for individuals and from $3,000 to $20,000 for married couples. The bill annually adjusts the limits for inflation.
You can check on the progress of Senate bill 2767 here. Make sure your call you respresentative and tell them to pass SSI Savings Penalty Elimination Act. Find your government representatives here.
Indepth analysis of SSI’s savings penalty by Center on Budget and Policy Priorities: The Case for Updating SSI Asset Limits: Raising or Eliminating Limits Would Reduce Administrative Burdens Without Dramatically Increasing Enrollment
Last Updated: June 28th 2024