SSI: "I Can Make What!?!?"

As a CWIC, I answer daily the question: "I'm on SSI...so how much can I make." Individuals are often pleasantly surprised when I tell them that the upper threshold in ND is $37,917.

Most people don’t know this number, or its significance. This is the threshold amount for Supplemental Security Income (SSI) for 2008. What does this mean? It means that someone with a disability who is receiving SSI can have an annual countable income of $37,917 – and remain eligible for SSI and, by default, Medicaid via 1619(b).

Much concern over earning limitations and work “dis-incentives” for Social Security beneficiaries has caused great fear to all involved. When people focus on these lower limits and not the upper thresholds, it tends to result in a depressing realization that work opportunities will be limited for the rest of their lives.

Lets face it. In ND, $37,917 per year is far from “scraping by”. What may create concern however when earning capacity reaches this level for a beneficiary is the chance of exceeding the SSI asset limit of $2000 (single).

Knowing current SSI asset exclusions such as a home, can not only allow beneficiaries to continue earning a living wage but also to invest that excess income. Retaining SSI eligibility and Medicaid while building equity at the same time can greatly increase one’s capacity to become self sufficient and independent of SSA benefits.

Further in-depth analysis of the advantages of home ownership and how SSA benefits can play a role in achieving those goals will be a topic for a future article.

Any questions may be directed to: rsi5@srt.com