As of September 30th, millions of recipients of the Supplemental Security Income (SSI) program will benefit from a new law set to take effect. The Social Security Administration (SSA) is introducing changes aimed at expanding benefits across the country and removing barriers for more people to apply for this essential financial program.
Whether you already qualify for SSI or are considering applying, here’s a detailed look at the new SSI changes and their impact on current beneficiaries and future recipients.
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Enhanced Benefits
The SSA’s new SSI changes will prevent payment reductions to certain beneficiaries receiving food assistance. This update will affect individuals and children who are blind, disabled, or age 65 or older with little or no resources or income. Approximately 7.4 million Americans currently receive SSI benefits, which supplement their Social Security income to cover living expenses.
Starting September 30, food will no longer be considered in determining eligibility for benefits known as in-kind support and maintenance (ISM). Previously, assistance for housing, food, or both could be deemed unearned income, potentially reducing payments or affecting eligibility.
New Maximum SSI Benefits
Under the new regulations, the maximum monthly federal SSI benefits in 2024 are set at $943 for individuals, $1,415 for couples, and $472 for essential persons who live with and care for an SSI beneficiary.
Generally, SSI recipients must earn less than $1,971 per month from work to qualify, and individuals or couples must have resources below $2,000 and $3,000, respectively. Resources include cash or assets that can be converted to cash, such as stocks, bonds, real estate, and bank accounts.
No Reduction
The new rule ensures that SSI recipients won’t see their monthly benefits reduced because of groceries or meals they receive from friends or family. Darcy Milburn, Director of Social Security and Health Policy at The Arc, a nonprofit advocating for people with intellectual and developmental disabilities, emphasizes that this rule will free up SSA resources. Previously, the SSA had to document every instance of free food received by beneficiaries, reducing their monthly income by up to a third.
Milburn highlights that this change addresses one of the most complex and burdensome laws affecting disabled SSI recipients in the US. This update is the first of several improvements the SSA plans to implement for SSI applicants and beneficiaries.
Relief Amid Inflation
The new rule is expected to provide significant relief to SSI recipients, especially as inflation continues to drive up food and grocery prices. Thomas Foley, Executive Director of the National Disability Institute, notes that SSI recipients are among the most food-insecure groups in the United States. The new rule may also lead to fewer overpayments and underpayments of benefits, enhancing financial security for beneficiaries.
Future Policy Changes
There is potential for further changes to SSI through a new bipartisan initiative, which seeks to increase asset limits for recipients to $10,000 for individuals and $20,000 for married couples. These proposed changes in threshold income restrictions could pave the way for Congress to make more significant adjustments to SSI, improving the program for future beneficiaries.
FAQs
What is the new SSI rule about food assistance?
Food will no longer be counted as income for SSI eligibility.
When does the new SSI rule take effect?
The new rule starts on September 30, 2024.
How many people will benefit from the new SSI rule?
Approximately 7.4 million Americans will benefit.
What are the new asset limits proposed for SSI recipients?
The proposed limits are $10,000 for individuals and $20,000 for couples.
How does the new rule affect monthly benefits?
Recipients won’t see benefits reduced due to receiving free food from friends or family.
