How Much Money Can You Have in the Bank on Disability?

Understanding financial considerations is key when navigating disability benefits in the United States. The amount of money an individual has, especially in bank accounts, can influence eligibility for certain assistance. Guidelines ensure benefits are directed to those who meet specific program requirements. Different disability programs have distinct rules regarding an applicant’s or recipient’s financial resources.

Disability Benefit Programs and Asset Rules

The federal government offers two primary disability benefit programs, each with different financial criteria. Social Security Disability Insurance (SSDI) is for individuals who have worked and paid Social Security taxes. Eligibility for SSDI is based on past earnings and work credits, not current financial assets or unearned income. As a result, there are no asset limits for SSDI recipients, meaning individuals can have savings, investments, or other valuable assets without affecting eligibility.

In contrast, Supplemental Security Income (SSI) is a needs-based program providing financial assistance to aged, blind, and disabled individuals with limited income and resources. Because SSI is for those with significant financial need, strict asset limits apply to determine eligibility. Unlike SSDI, SSI applicants and recipients must remain within specified resource thresholds to qualify for and continue receiving benefits.

Understanding SSI Asset Limits

Supplemental Security Income (SSI) supports individuals with significant financial limitations. To qualify, applicants must demonstrate their countable assets fall below a certain threshold. For 2025, the asset limit for an individual is $2,000. For a married couple, the combined asset limit is $3,000.

If an individual’s or couple’s total countable resources exceed these amounts, they will not be eligible for SSI benefits. The Social Security Administration (SSA) defines countable assets as anything an individual owns that could be converted to cash and used for food or shelter. This includes various forms of property and financial instruments.

What Counts as an Asset for SSI

The Social Security Administration (SSA) considers most assets that can be converted to cash as countable resources for SSI eligibility. Cash on hand, and funds in checking and savings accounts, are direct examples. These liquid assets are readily available and directly impact eligibility.

Several types of assets count towards the SSI asset limit:
Investments: This includes stocks, bonds, and mutual funds, as they can be sold and converted into cash.
Real estate: Property other than the applicant’s primary residence, such as vacation homes or additional land.
Second or subsequent vehicles: If an individual owns more than one vehicle, additional vehicles are typically counted unless a specific exclusion applies.
Cash surrender value of life insurance policies: This counts as a resource if their face value exceeds a certain threshold, such as $1,500.

What Does Not Count as an Asset for SSI

Many assets are excluded from the Supplemental Security Income (SSI) asset calculation, allowing recipients to retain essential belongings without jeopardizing benefits. The primary residence where an individual lives, along with its land, is not counted as an asset, regardless of value. This exclusion ensures people do not have to sell their homes to qualify.

Several assets are excluded from the SSI asset limit:
One vehicle: Excluded regardless of its value, as long as it is used for transportation by the individual or a household member.
Everyday household goods and personal effects: This includes furniture, appliances, and clothing.
Burial spaces and funds: Burial spaces for the individual and immediate family are excluded. Burial funds up to $1,500 for the individual and their spouse are also not counted, provided they are clearly designated for burial expenses.
ABLE accounts: Funds held in these specific trusts are typically excluded up to a certain amount, allowing individuals with disabilities to save money without affecting SSI eligibility.

Reporting Asset Changes

Recipients of Supplemental Security Income (SSI) must report changes in their financial situation to the Social Security Administration (SSA). Any increase or decrease in countable assets must be reported promptly to ensure accurate benefit payments. This includes changes to bank account balances, new financial accounts, or the acquisition or disposal of other countable resources.

Changes should be reported as soon as possible, no later than 10 days after the end of the month in which the change occurred. Failure to report on time can lead to overpayments, which may require repayment, and can result in penalties or reduced future benefits. The SSA provides several reporting methods:
Online through a My Social Security account
By phone
Through mail
In person at a local SSA office
When reporting, individuals should provide details about the new asset amount and the date of the change.