The recent final rule issued by the Social Security Administration has significant implications for Supplemental Security Income (SSI) beneficiaries. This rule aims to prevent food assistance from affecting payments to certain beneficiaries, thereby alleviating financial burdens on individuals with disabilities, blindness, or those aged 65 and older who have limited income or resources.
The new rule, set to take effect on September 30, ensures that food will no longer factor into the calculations for eligibility for benefits under the In-Kind Support and Maintenance (ISM) category. Currently, support provided in the form of food or shelter can be considered unearned income for SSI beneficiaries, potentially reducing their monthly payments or impacting their eligibility for benefits.
The elimination of food assistance from the eligibility calculations is a welcome change for the 7.4 million Americans who rely on SSI. This update means that beneficiaries no longer have to worry about the groceries or meals they receive affecting their benefits. Darcy Milburn, director of Social Security and health care policy at The Arc, praised the rule for addressing a longstanding issue that posed a burden on people with disabilities.
Social Security Commissioner Martin O’Malley emphasized that simplifying policies is a step towards reducing the burden on beneficiaries and agency staff. It also promotes equity by removing barriers to accessing payments. The new rule is part of a series of updates that the Social Security Administration intends to implement for SSI beneficiaries and applicants in the future.
With the rise in inflation leading to higher food and grocery costs, the new rule provides much-needed relief to SSI beneficiaries who are among the most food insecure groups in the United States. Thomas Foley, executive director at the National Disability Institute, highlighted that the change could lead to fewer instances of overpayments or underpayments, enhancing financial security for beneficiaries.
There is bipartisan support for further changes to the SSI program, including raising asset limits for beneficiaries. A proposed bill aims to increase individual asset limits to $10,000 and married couple limits to $20,000, offering individuals the opportunity to save and secure a better financial future. Bank CEOs, such as Jamie Dimon, have advocated for updating SSI rules to prevent individuals from being penalized for exceeding asset limits.
The Social Security Administration’s final rule marks a positive step towards improving the financial stability of SSI beneficiaries. By removing food assistance from eligibility calculations and considering further policy changes, the administration aims to support individuals with disabilities and promote financial equity. The impact of these changes extends beyond financial security, providing a sense of relief and empowerment to those in need.
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