Social Security Disability Asset Limits

The value of cash, bank accounts and other assets must not exceed the limit to qualify for Social Security.

Several factors are taken into consideration in the determination of eligibility for Social Security Disability. Applicants must report certain resources and the value of these assets must not exceed the stated limits.

Assets

Resources applied to asset limits in the determination of Social Security Disability eligibility include cash on hand, bank accounts, property, land, life insurance, stocks, bonds and other investments.

Deemed Resources

Resources belonging to a spouse or parent who resides in the same household as the applicant, known as deemed resources are counted as assets.

Asset Limits

The asset limit for a single person is $2,000 and $3,000 for a couple as of 2010. For children applying for benefits, $2,000 in assets for one parent and $3,000 for two parents do not apply to the child's $2,000 cash asset limit.

Allowable Assets

Certain assets are not counted including the home and property on which the applicant resides, one vehicle per household and life insurance valued at $1,500 or less. Retroactive Social Security Income and tax credits in the form of a refund are not counted upon receipt, but rather 9 months later if any balance remains unpaid.

Selling Assets

Applicants may choose to sell resources that exceed the asset limit and receive conditional benefits during the sale of property. Upon completion of the sale, conditional benefits are to be repaid to the Social Security Administration.

References

• Social SecurityOnline: SSI Resources