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What counts as a resource under for SSI purposes

What counts as a resource under for SSI purposes

| Sep 2, 2015 | Supplemental Security Income (SSI) |

Many people in New Jersey are aware that the Social Security Administration offers Supplemental Security Income to those people who are disabled, blind or over 65-years-old. The SSA, however, only extends the benefits after it has determined that the resources of the applicant are limited and, without SSI, they would not be able to pay even the most basic, everyday expenses.

In addition to offering SSI benefits, the Social Security Administration also encourages people to work in order to become self-supporting. According to the Plan to Achieve Self-Support, or the PASS provision, those qualities of an SSI recipient that are necessary to achieve specific work-related goals are not considered a resource when it comes to determining whether a person can qualify for SSI.

Property that is owned and used in a trade or business is not considered a resource under SSI guidelines. Some examples include a gas station, a farm and a beauty salon. Similarly, personal property, such as tools, uniforms and gadgets, which are necessary for work-related goals, do not count. Furthermore, government permits that allow an SSI recipient to generate some income, like a fishing license, are not included as resources.

In addition to the aforementioned property, the SSA also allows an SSI recipient to exclude certain other items from the list of resources that the person has to submit to the SSA as a part of that person’s income-reporting rule. Complete details regarding that can be found on the Social Security website. However, if a person needs additional information, it may be a good idea to consult a knowledgeable Social Security attorney.

Source: SocialSecurity.gov, “Spotlight on Property You Need for Self-Support — 2015 Edition,” Accessed on Aug. 26, 2015