WebThe term “spend down” describes the process of literally spending the excess money received by a benefits recipient down to the maximum allowable resource limits. By spending the excess funds in the month in which they are received, the individual can … WebIf you are a payee for an SSI recipient, you must be particularly careful as to how back payments are spent. This is because if an SSI recipient has more than $2,000 in countable assets (for couples, this amount is $3,000), he or she will no longer be eligible for SSI.
Cameron Lindahl, M.S. on LinkedIn: #medicaidplanning # ...
WebOct 15, 2024 · Paying for medical equipment, such as hearing aids or at-home assistance, can be a good idea as well. Use these SSDI spending tips to make the best use of your benefits. For more SSDI spending tips or advice in general, schedule a free consultation with Social Security Disability Advocates USA by calling 602-952-3200 today. WebDec 2, 2024 · 1. 9-Month exclusion The unspent portion of retroactive SSI and RSDI benefits received on or after 3/2/04 is excluded from resources for the 9 calendar months … aspen yukon login
Understanding SSI - SSI Resources - Social Security Administration
WebSSI recipients have 12 months to spend down the stimulus payment so that they are back under the $2,000 resource limit (for an individual, $3,000 for a couple). You count the first month as the month after they receive the payment. Also, the payment does not count as income in the month it is received. http://health.wnylc.com/health/entry/46/ WebSupplemental Security Income (SSI) is a needs-based program. To get SSI, your countable resources must not be worth more than $2,000 for an individual or $3,000 for a couple. We call this the resource limit. Countable resources are the things you own that count toward the resource limit. Many things you own do not count. aspen ystu student login