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Supplemental Security Income (SSI) is a needs-based program with strict limits and complicated rules related to resources. In addition, income and assets must fall within certain limits.

To be eligible for SSI, an individual or couple must have countable resources that are no more than the resource limit. The alleged value of … When it comes to Social Security there are two different programs; social security insurance (SSI), and Social security disability insurance (SSDI).We have explained the difference between the two programs in the past, but it’s important to keep in mind that SSI is income-based, and SSDI is based on work credits.

In 2005, the Social Security Administration (SSA) issued important regulations designed to simplify what assets are excluded when determining a person’s eligibility for benefits. 2. Fortunately, the home the SSI applicant or recipient lives in is excluded from counting towards this resource limit. In some cases, a second car can put you over the resource limit.

A home is any property in which an individual (and spouse, if any) has an ownership interest and which serves as the individual's principal place of residence. More than 8 million U.S. residents collected $4.3 billion in Supplemental Security Income benefits in March 2011. Recipients must be at least age 65, or blind or disabled.

Excluded resources are resources that don’t count towards SSI’s resource limit. Ownership must be verified for excluded Homestead property and excluded automobiles for all SSI-related categories.

In addition, both SSI and SSDI have the same strict medical criteria for qualification.

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SSI resource exclusions applicable to extra help determinations include the following: The individual's home. 4. Supplemental Security Income (SSI) ... bank statements, deeds, and other proof of property ownership as part of your application. If you’d like to see the detailed (and confusing) regs, here’s where you can find the SSI car policies. 3. Any land adjoining the property There are some common problems with resources for those applying for and receiving SSI. Section from SSI site about excluded home when selling; Social security Exclusion of the Home; (a) Defined. For purposes of this exclusion, a home is any property in which the individual (and spouse, if any) have an ownership interest and which serves as the principal place of residence. The value and ownership of Homestead property must be verified for individuals applying for Nursing Home or HCBS.) Those receiving or applying for Supplemental Security Income (SSI) must have resources of less than $2,000 for an individual or $3,000 for an eligible couple. How The SSI Car Rules Work One car is excluded as a resource, but the additional cars count as resources.

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