Understanding Supplemental Security Income
SSI Resources2007 Edition

  WHAT  ARE  RESOURCES?  

Resources are things you own such as:

	cash;
	bank account(s), stocks, U.S. savings bonds;
	land;
	life insurance;
	personal property;
	vehicle(s);
	anything else you own which could be changed to cash and used for food or shelter; and
	deemed resources.

  WHAT  ARE  DEEMED  RESOURCES?  

Sometimes, we "deem" a portion of the resources of a spouse, parent, or sponsor of an alien as belonging to the person who files for SSI benefits. We call this process the deeming of resources.

	If a child under age 18 lives with one parent, $2,000 of the parent's total countable resources does not count.
	If the child lives with two parents, $3,000 does not count.

We count amounts over these limits as part of the child's $2,000 resource limit.

  WHAT  IS  THE  IMPORTANCE  OF  RESOURCES  IN  THE  
  SSI  PROGRAM?  

The value of your resources is one of the factors that determine whether you are eligible for SSI benefits. However, not all resources count for SSI.

If the value of your resources that we count is over the allowable limit at the beginning of the month, you cannot receive SSI benefits for that month. If you decide to sell the excess resources, you may receive SSI benefits beginning the month after you sell the excess resources. You may even be able to receive benefits while you try to sell the excess resources in certain situations.

See the SSI Spotlight on Getting SSI Benefits While You Try to Sell Excess Resources.

  WHAT  IS  THE  ALLOWABLE  RESOURCE  LIMIT?  

The limit for countable resources is $2,000 for an individual and $3,000 for a couple.

  WHAT  RESOURCES  DO  NOT  COUNT  FOR  SSI?  

For SSI, we do not count:

	the home you live in and the land it is on (we do not place a lien on your home);
	household goods and personal effects;
	your wedding and engagement rings;
	burial spaces for you or your immediate family;
	burial funds for you and your spouse, each valued at $1,500 or less (See the SSI Spotlight on Burial Funds);
	life insurance policies with a combined face value of $1,500 or less;
	one vehicle, regardless of value, if it is used for transportation for you or a member of your household;
	retroactive SSI or Social Security benefits for up to nine months after you receive them (including payments received in installments);
	grants, scholarships, fellowships, or gifts set aside to pay educational expenses for nine months after receipt.

  WHAT  ARE  INSTALLMENTS?  

When an individual is eligible for past–due SSI benefits, Social Security must first reimburse the State for any monetary interim assistance, while you were waiting for your SSI decision. If the remaining past–due benefits are large, we must pay them in installments. The installment payments are made in no more than three payments, at six month intervals.

There is an exception that allows the amount of the first and second payment to be increased because of certain debts.

There are also two exceptions that would permit payment of all unpaid benefits due an individual to be paid in one lump–sum:

	if you have a medical condition that is expected to result in your death within 12 months; or
	you become ineligible for SSI benefits and are likely to remain ineligible for 12 months.

  WHAT  OTHER  RESOURCES  DO  NOT  COUNT  FOR  SSI?  

	property essential to self–support (See the SSI Spotlight on Property You Need for Self–Support);
	resources that a blind or disabled person needs for an approved plan for achieving self–support (PASS) (See the SSI Spotlight on Plans to Achieve Self–Support);
	money saved in an Individual Development Account (IDA) (See the SSI Spotlight on Individual Development Accounts);
	support and maintenance assistance and home energy assistance that we do not count as income;
	cash received for medical or social services that we do not count as income is not a resource for one month;

EXCEPTION:Cash reimbursement of expenses already paid for by the person is counted under the regular income and resources rules.

	State or local relocation assistance payments are not counted for nine months;
	crime victim's assistance is not counted for nine months;
	earned income tax credit payments are not counted for nine months;
	grants, scholarships, fellowships or gifts used for tuition and educational expenses are not counted for nine months after the month of receipt, effective June 1, 2004;
	dedicated accounts for disabled or blind children (See the SSI Spotlight on Dedicated Accounts for Children);
	disaster relief assistance which we do not count as income;
	cash received for the purpose of replacing an excluded resource (e.g. a house) that is lost, damaged, or stolen;
	child tax credit payments are not counted for nine months; and
	some trusts (See the SSI Spotlight on Trusts).

  WHAT  IF  I  WANT  TO  SELL  A  RESOURCE?  

If you are trying to sell real property or other resources that put you over the resource limit, you may be able to get SSI benefits while you are trying to sell them. When you sell the resource, you must pay back the SSI benefits you received for the period in which you were trying to sell the property or other resource. We call these "conditional benefits."

You must sign a conditional benefits agreement, and we must accept that agreement before a conditional payment period can begin. You can get the agreement form from your local Social Security office.

See the SSI Spotlight on Getting SSI Benefits While You Try to Sell Excess Resources.

  WHAT  HAPPENS  IF  I  GIVE  AWAY  OR  SELL  A  RESOURCE?  

If you, your spouse, or a co–owner give away a resource or sell it for less than it is worth, you may be ineligible for SSI benefits for up to 36 months. How long you are ineligible for SSI benefits depends on the value of the resource you transferred.

See the SSI Spotlight on Transfers of Resources.