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Friday, August 19, 2011

Supplemental Security Income (SSI): Accounts Not Counted As Resources

Umar Moulta-Ali
Analyst in Disability Policy

As a means tested program, Supplemental Security Income (SSI) places a limit on the assets or resources of its beneficiaries. However, there are four types of accounts that can be used by SSI beneficiaries for specific purposes without affecting their SSI eligibility. Money placed into burial accounts, money used as part of a Plan for Achieving Self-Support (PASS), money placed in Individual Development Accounts (IDAs), and money placed in dedicated accounts for children are not counted as resources for the purposes of determining SSI eligibility. These accounts can be used by SSI beneficiaries to build assets or plan for the future and represent an important part

This report provides an overview of these four types of accounts and outlines the cases when money placed into these accounts is exempt from the SSI resource limitations.

Date of Report: August 9, 2011
Number of Pages: 7
Order Number: RS22512
Price: $19.95

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