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What is Countable Income for SSI?

Supplemental Security Income (SSI) is a needs-based program. To qualify for SSI, the amount of countable income, or resources, that you have should not cap $2,000 per individual or $3,000 per couple. This is called the resource limit.

Resources are items you own that can be easily turned into cash. Some examples of resources that count towards the limit include:

  • Cash
  • Bank accounts
  • Stocks and bonds
  • Land
  • Personal property
  • Vehicles
  • Gift cards
  • Life insurance

However, most things do not count as resources, including:

  • Your house and the land your house is on
  • The vehicle that you and/or your household uses for transportation
  • Household goods and personal effects (like wedding rings or furniture)
  • Burial plots or spaces for you and your family
  • Life insurance policies under $1,500
  • Property that you or your spouse use for business – this includes land and property like farming equipment
  • Grants, scholarships, or gifts for educational expenses
  • Some trusts

If you have an ABLE account, only funds over $100,000 would count towards the resource limit. You can find more information about SSI and ABLE accounts on the Social Security Administration website.If you have questions about how your SSI or disability benefits may be affected by a car accident settlement or your monthly paycheck, an Indiana Social Security disability attorney may be able to help. Call Hensley Legal Group or contact us online about your Social Security disability claim.