Senators Rob Portman (R-OH) and Sherrod Brown (D-OH) introduced legislation this week to increase the asset limits for Supplemental Security Income (SSI) beneficiaries. Currently, the 8 million Americans who receive SSI benefits are limited to $2000 in assets, $3000 for married couples. The average monthly benefit is $585.
The legislation would increase the limits, last revised in 1984 (!), to $10,000 for individuals and $20,000 for married couples and index them to inflation going forward.
The Social Security Administration (SSA) just released a new online tool that creates a protective filing date when applying for Supplemental Security Income (SSI) benefits, as long as the SSI application is submitted within 60 days of making the online request. The protective filing date is important because if the application is subsequently approved, it could mean an additional month or two of SSI benefits.
After you submit a request, SSA will schedule a telephone appointment to apply for benefits. If “priority life circumstances” — e.g., homelessness, a terminal illness, recent release from incarceration, or being a wounded warrior — is indicated in the application, SSA will try to call within three business days to take the application for SSI benefits over the phone or schedule an appointment for you to apply.
More detailed information about the online tool can be found here.