Question

What are the expected labor market affect of assets-testing eligibility for disability insurance benefits?

Answer 1

To be qualified to get SSI benefits dependent on inability, an SSI candidate or a current SSI beneficiary who is single can't have more than $2,000 in resources.

In the event that an SSI candidate or beneficiary is hitched (regardless of whether just a single individual is qualified for inability), as far as possible is $3,000. Just the IRA or annuity plan of the ineligible life partner isn't treated as a component of the companions' benefits.

Also, if a kid under age 18 lives with one parent, the SSA regards the assets of a parent or parent's life partner. The SSA will overlook the first $2,000 of the parent's all-out countable assets, or if the kid lives with two guardians, $3,000. Any advantages over that sum will be checked toward the kid's $2,000 asset limit.

The SSA considers the accompanying assets:

• Money
• Cash in a checking or bank account
• Money esteem in disaster protection approaches (over $1,500)
• Stocks and bonds
• Family unit products and belongings (over $2,000)
• Engine vehicles (with the exception of one), and
• Land (other than the home in which an inquirer lives).