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What Is The Asset Limit For Social Security Disability

Last updated: April 9, 2023

Social Security, through its disability programs, pays monthly benefits to employees who cannot work due to a serious illness or impairment that is expected to last at least a year or result in death within a year. In 2020, 8.9 million qualified workers received Social Security disability benefits. 

However, when filing for disability benefits — whether for children or an injured worker — access to other assets should always be considered. Learn more about the asset limit for social security disability benefits by reading the article below. 

Explaining The Difference Between SSI and SSDI

Both Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI) provide disability payments and other benefits for individuals who are unable to work. However, the benefits and qualifications for each program vary.

SSI is a cash assistance program for disabled people with little or no work history. It is available to low-income people who have never worked or have not accumulated enough work credits to qualify for SSDI. The eligibility requirements for SSI include the following:

  • A medical condition preventing you from working or is terminal
  • Must of legal age (18 years old or older)
  • A United States citizenship and current residence in any U.S. state

On the other hand, SSDI is an insurance program administered by the Social Security Administration (SSA) that is available for persons who have worked for five of the last ten years and earned at least 20 work credits. Other criteria for eligibility include:

  • A medical condition that keeps you from working for at least one year
  • Legal age between 18 and 65 years old 

SSI is available to all U.S. citizens, regardless of employment history. SSDI, however, is a disability insurance policy that employees pay for while working and receive benefits if they cannot work.

Asset Rules For Social Security Disability

Asset Rules For Social Security Disability

If you have access to other assets, you should consider whether it will hurt your chances of having your disability claim approved. Below are some asset rules for social security disability benefits.

Asset Retention When Filing For SSI

The asset retention rules are strict for SSI primarily because it is a need-based program. You may have a monthly income, but it should be limited to less than $900 to $1,700, depending on your circumstances. You are also limited to a resource allocation of less than $2,000 for one person or $3,000 for a married couple. Stocks and bonds, checking and savings accounts, and other items with a sealable value are examples of resource assets. 

It is important to note that SSI applicants are also eligible for Medicaid benefits to help with health care expenses. Some applicants may be eligible for SNAP or TANF benefits as well.

Asset Retention When Filing For SSDI

Unlike the SSI program, there is no limit to the assets that can be retained while receiving SSDI benefits. Unearned income, such as dividends from stocks, bonds, or other investments, may also be received by SSDI recipients.

You can work while receiving SSDI, but your monthly earnings are restricted. In 2022, you can earn no more than $1,350 per month if you are an SSDI beneficiary. 

Frequently Asked Questions

Below are some of the most commonly asked questions related to SSDI and SSI disability benefits.

Can you have a savings account on Social Security Disability?

You can have a savings account even if you receive either Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI). However, depending on the type of disability benefit you receive; there are predetermined limits to how much you can have in your savings account.

What happens if you inherit money while on disability? 

If you expect to receive an inheritance, it will not affect your eligibility for Social Security Disability Insurance (SSDI) but may affect your eligibility for Supplemental Security Income (SSI). This is due to the fact that SSDI and SSI are structured differently.

Accepting an inheritance while receiving SSI may significantly impact your eligibility for SSI benefits through "countable resources," also known as resource assets.

Is Social Security disability for life?

In most cases, you will continue to receive benefits for the duration of your disability. Certain circumstances, however, may affect your continued eligibility for disability benefits. But generally, if your health hasn’t improved or your disability prevents you from working, you’ll continue to receive your Social Security disability benefits.

For over 60 years, Social Security disability has helped a lot of workers and their families replace lost income. To be eligible for the SSA's disability programs, specifically SSDI and SSI, there are certain eligibility requirements you must keep track of. The value of your resource assets is one of the factors that determine whether you are eligible for SSI and SSDI benefits. It is important to keep track of the asset limit for Social Security disability to increase your chances of getting approved.

If you recently applied for a disability claim, find out how long Social Security disability reviews take in this article from Disability Help. 

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Victor Traylor
An expert to the field of Social Justice, Victor formed Disability Help to connect ideas and expertise from the US with rising global cultural leadership, building networks, fostering collaboration, long-term results, mutual benefit, and more extensive international perception.
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