How do the NEW SSI Rules Affect You?
Supplemental Security Income (SSI) is a federal cash benefit available to:
individuals with a disability;
whose disability impacts their ability to earn more than $1,550 per month (as of January 2024); and
who have $2,000 or less in their personal bank accounts (ABLE accounts and special needs trusts do not count toward this $2,000 limit).
Once qualified, the individual will receive a monthly check of up to $943 (as of January 2024). Up until recently, the Social Security Administration would reduce this $943 benefit by one-third if a third party, such as parents, were paying for the individual’s food or rent. These third party payments are known as “in-kind support and maintenance” or “ISM.”
Effective as of September 30, 2024, the Social Security Administration will no longer reduce an individual’s SSI benefit if a third party is paying for the individual’s food. This rule change will reduce the burden placed on families who are presently required to report to Social Security whenever a third party pays for food on behalf of the SSI recipient.
While food has been removed from the definition of in-kind support and maintenance, the Social Security Administration will continue to reduce an individual’s monthly cash benefit by one-third if a third party pays rent on their behalf or allows the individual to reside in their home rent-free. In order to avoid this reduction, families often create rental agreements with their loved one, or contribute funds to an ABLE account to help pay for rent.
To learn more about the SSI rules and strategies to get the full $943 benefit, we encourage you to schedule a consultation.
