If you are able to save some money and have in the bank around 15,000, Does SSD kick you off since they see you are handling your money well????
2007-03-12 17:56:29 · 4 answers · asked by David W 2 in Business & Finance ➔ Credit
Yes the max is 2000 for an individual and 4000 for a couple.
You are allowed to have one car, and a house.
2007-03-12 18:07:20 · answer #1 · answered by Carlene W 5 · 0⤊ 1⤋
SSDI is based on a continuing disability, not on need. If you can work, they will remove you. Otherwise, you continue until you are eligible for SS. One of the respondents added SSI to the equation which is for people with developmental disabilities, etc., I don't know what the qualifications are for that, but need might come into play. Another respondent mentioned a $2000 savings limit, that's for Medicaid.
2007-03-13 01:26:22 · answer #2 · answered by Scott K 7 · 0⤊ 0⤋
The resource limit, excluding cars and homes, for SSI is $4,000.
For SSDI, no such resource limit exists BUT they allow you to work for 9 months without taking away your benefits.
So, if you've saved $15K while on SSDI - good for you. If you receive SSI, you may want to take the high road and let them know about your resources - you can always reapply if your resources fall below the limits.
2007-03-14 17:18:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋
it depends
there are two types of social security payments
one is based on your work quarters (you can own a home be married etc) and one is more like welfare and based on need and a disability...for example
if you were working and hurt your back, the payment (funding ) is different then if you have down syndrome. since the funding is different, there are different rules.
for the first type you can have assests in excess of 500.00 for the second one, you cannot.
2007-03-13 01:08:18 · answer #4 · answered by lisa s 6 · 0⤊ 2⤋