As the year draws to a close, it’s a time for reflection and preparation for the new one ahead. For those receiving or applying for Supplemental Security Income (SSI), this period is also a crucial time to review your financial and living situations. A small change that may seem insignificant can affect your eligibility or benefit amount. To help you navigate this, you'll need a year-end checklist.
Reviewing this information now can help prevent overpayments and ensure a smoother transition into the new year. This will give you peace of mind and allow you to focus on your well-being.
Income and Resources Review
The Social Security Administration (SSA) has strict limits on the income and resources an individual can have while receiving SSI.
Income: Take a moment to review all sources of income you and your household have received this year. This includes earned income from work, unearned income such as Social Security benefits, pensions, or unemployment, and "in-kind" support like free food or shelter. Even minor, one-time payments or gifts can be counted as income.
Resources: Resources are assets you own, such as cash, bank accounts, stocks, and property. The SSI resource limit is currently $2,000 for an individual and $3,000 for a couple. It’s important to remember that certain items are not counted, including the home you live in and one vehicle used for transportation. If your resources are close to the limit, now is a good time to make sure everything is in order.
Reporting Changes to the SSA
The Social Security Administration requires timely reporting of any changes to your living situation, income, or resources. This is not meant to be a burden, but rather a way to ensure your benefits are calculated accurately. Reporting these changes promptly can help avoid future complications.
Changes in Living Arrangements: Have you moved, or has someone moved in or out of your household? This includes a spouse, child, or even a roommate.
Changes in Marital Status: Getting married or divorced can impact your SSI benefits.
Changes in School Attendance: For children with disabilities, changes in school status or living situations can affect their benefits.
Why This Checklist is Important
Taking the time to review these details might feel overwhelming, but it is one of the best ways to protect your benefits. Incorrect information or a failure to report changes can lead to an overpayment. The SSA will require you to pay this money back, often by reducing your future benefits. By being proactive and organized with this year-end review, you are taking a powerful step toward securing financial stability.
San Antonio Supplemental Security Income Attorneys Here to Help
We understand that managing these details can be complex and stressful. You don’t have to do it alone. The team at The Packard Law Firm is here to provide professional, compassionate, and reassuring legal support to disabled individuals and their families. If you are a current or prospective SSI recipient in Texas and have questions about your benefits or need help with an appeal or denial, please reach out to us. We’ll provide the guidance you need to protect your rights and your future.
Contact us today at (210) 972-8918 to get started with a free consultation.