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    TWO Ohio senators introduced a bill that would update the asset limits to Supplemental Security Income (SSI). The Savings Penalty Elimination Act was proposed by Senators Sherrod Brown and Rob Portman and has gained bipartisan support. 1The proposal would increase asset limits that haven't been updated since the 80s The bill would update its rules for asset limits and how much money recipients would be allowed to set aside. SSI has rigid asset limits that have not been updated since the late 80s. According to the proposal, individual beneficiaries could be able to have up to $10,000 and couples can have $20,000. This would give recipients a nice cushion in case of emergencies, without affecting their benefits. Read More on SSIPAYDAY TIME Exact dates Social Security, SSI, and SSDI are paid in May OUT OF CASH Four common SSI application mistakes - how to avoid them to get payments The current limit is $2,000 for an individual and $3,000 for a couple. Republican Senator Rob Portman said: “Rising costs and inflation is hurting all Americans, but especially our nation’s...
    Chairman Sherrod Brown (D-OH) questions Treasury Secretary Janet Yellen and Federal Reserve Chairman Powell during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, September 28, 2021.Kevin Dietsch | Pool | Reuters A bill to change Supplemental Security Income benefits for elderly, blind and disabled Americans is a first step in updating a program that has not been altered in decades, Ohio Democratic Sen. Sherrod Brown said. Brown introduced the bill, the SSI Savings Penalty Elimination Act, on Thursday with Ohio Republican Sen. Rob Portman. The proposal would raise asset limits that prevent approximately 8 million Americans who receive these federal benefits from having meaningful savings set aside. Currently, the program has a $2,000 cap for individuals and $3,000 for couples. The legislation seeks to raise those limits, which have not been updated since 1989, to $10,000 and $20,000, respectively. More from Personal Finance:How taxes on wages for Social Security could changeSeniors have high hopes for prescription drug pricing reformHow changing work requirements may help SSI beneficiaries...
    Camille Tokerud Photography Inc. | Stone | Getty Images A federal benefits program for blind, disabled and elderly individuals could get a long-overdue update if a proposal in Washington is approved. Two Ohio senators — Democrat Sen. Sherrod Brown and Republican Sen. Rob Portman — have teamed up to introduce a bill to update the Supplemental Security Income program's rules for how much money beneficiaries can have set aside. SSI was created by Congress in 1972. The senators' bill, called the SSI Savings Penalty Elimination Act, was introduced on Thursday. SSI provides a maximum monthly benefit of $841 per individual or $1,261 for couples where both individuals are eligible for the program. More from Personal Finance:How taxes on wages for Social Security could changeSeniors have high hopes for prescription drug pricing reform How changing work requirements may help SSI beneficiaries However, some beneficiaries receive far less. The average monthly benefit for all recipients is currently $625.50. Many people receiving these benefits are living under or close to the federal poverty level, which in 2022 is $13,590 in annual income for...
    The U.S. Supreme Court in Washington, D.C.Al Drago | Bloomberg | Getty Images Efforts to expand a federal program for disabled, elderly and blind Americans suffered a setback on Thursday when the Supreme Court ruled that Puerto Rico residents should be excluded from receiving those benefits. The program, called Supplemental Security Income, or SSI, currently provides monthly checks to about 7.7 million Americans who qualify. But because it is aimed at people with low income and few resources, the program comes with strict income and asset limit rules. Some Congressional lawmakers have proposed updating the program, which has regulations that have not been updated since it was created in 1972. Last year, the House of Representatives included one key change — expanding SSI to residents of U.S. territories — when it passed Democrats' Build Back Better package. More from Personal Finance:What we learned from the Biden, Harris tax returnsSupreme Court rejects states' challenge to SALT limitThe average tax refund this year and what you should do with yours That change would include residents of Puerto Rico, Guam, the U.S. Virgin...
    A cyclist rides in front of the U.S. Supreme Court building in Washington, March 15, 2022.Emily Elconin | Reuters The U.S. Supreme Court ruled Thursday that Congress is not required to extend a federal disability benefits program to residents of Puerto Rico. The high court voted 8-1 that because Congress treats Puerto Rico residents differently from those residing in the states when it comes to tax laws, it can do the same when it comes to the Supplemental Income Security, or SSI, benefits program. SSI benefits are meant to offer financial assistance to help disabled and elderly people. The program is available to people living in the 50 U.S. states, but not to those living in some U.S. territories. This is breaking news. Please check back for updates.TVWATCH LIVEWATCH IN THE APPUP NEXT | ETListen
    Hinterhaus Productions | Getty Images About 7.7 million Americans count on monthly government checks through a program for low-income seniors or people with disabilities. Supplemental Security Income, or SSI, as it's known, provided an average benefit of $569 per month as of November. One big change — updating the program's rules around income from work — could help improve those beneficiaries' standard of living, according to a report from the Urban Institute. The maximum SSI benefit in 2022 is $841 per month, up from $794 in 2021. Still, most SSI beneficiaries are within 150% of the federal poverty level, according to the Urban Institute. For a family of one, that's $1,147 per month in 2022. More from Personal Finance:Why experts say Social Security's retirement age could move higherStates put unemployment insurance on chopping blockHow to plan your visit as Social Security offices reopen In addition, many people who receive SSI benefits are unable to work. Only a small percentage of recipients of those government checks are employed at any given time, according to the research. And when they do work,...
    ABOUT 8million Americans will be receiving Supplemental Security Income (SSI) worth at least $841 today. For many, it's still not enough to pay for the basic necessities, but some may see a boost as the majority of states supplement the checks. 1Some states provide additional money to a beneficiary's monthly SSI payment The Supplemental Security Income program provides financial support to needy persons aged 65 or older, blind or disabled adults, and blind or disabled children. Eligibility requirements and federal payment standards are the same. Anyone may apply for SSI, but not everyone receives the same amount. You may get more if you live in a state that adds money to the federal SSI payment. You may get less if you have other income such as wages, pensions, or Social Security benefits.  You may also get less if someone pays your household expenses or if you live with a spouse and he or she has income. Most read in moneyMEAL DEAL Extra $95 checks to be sent out but changes to SNAP may slash benefits by $100ALMOST HERE $7,452 Social Security checks to be sent...
    ABOUT 8million Americans receive Supplemental Security Income (SSI), and for many, it's still not enough to pay for the basic necessities. Some recipients may see a boost as states add funds to the monthly checks. 1Some states provide additional money to a beneficiary's monthly SSI payment The Supplemental Security Income program provides financial support to needy persons aged 65 or older, blind or disabled adults, and blind or disabled children. Eligibility requirements and federal payment standards are the same. Anyone may apply for SSI, but not everyone receives the same amount. You may get more if you live in a state that adds money to the federal SSI payment. You may get less if you have other income such as wages, pensions, or Social Security benefits.  You may also get less if someone pays your household expenses or if you live with a spouse and he or she has income. Most read in moneyMEAL DEAL How to apply for EBT and SNAP food stamp payments as emergency $1,504 boost sentCASH IN Child tax credit payments may continue as $3,600 automatic claim window opensMORE MONEY Automatic...
    CASH-strapped parents can still receive Supplemental Security Income, even if they live with their adult children. Your SSI monthly benefits will be reduced if you don't have to pay all of your food and shelter costs, but the amount might only be reduced by up to one-third of the federal benefit rate. 1Generally, the more income you have, the less your SSI benefit will beCredit: Getty Social Security sets a yearly maximum federal benefit for SSI, which provides payments for people who are disabled, blind, or 65 and older, and in financial need. In 2022, the federal benefit rate is $841 for an individual and $1,261 for a married couple if both spouses are eligible for SSI. If you live with your adult child or children, or anyone who could potentially cover some of your living expenses for you, the Social Security Administration might consider that in-kind income. The one-third provision reduces your SSI payment for a given month by a third of the federal benefit rate if you live in someone else’s household for that entire month and do...
    STATES across the country are offering more supplemental benefits worth up to $841. Known as the Supplemental Security Income (SSI), the federal benefits program is managed by the Social Security Administration and is designed to help struggling households.  1NINTCHDBPICT000701690239-2Credit: Getty But in the year 2022, the SSI standard for limited income goes up to $841 per month for a single person. It is $1,261 monthly per couple — where both people are legal beneficiaries.  But the amount is reduced by any “countable income” that recipients pocket, which includes veterans' disability payments or social security benefits. This means that not everyone will receive the same amount. Americans could receive SSI if they have resources that are valued at less than $2,000. Resources can include cash, bank accounts, stocks, cars, and life insurance. Most read in The US SunLEGEND DEAD Meat Loaf 'dies of covid' age 74 with wife by his side as tributes pour inBIG BOOST Automatic monthly $687 Social Security payments available - how to applyLOOK OUT Child tax credit worth $3,600 will affect the IRS returns of MILLIONSTWISTED Inside...
    AMERICANS who claim certain benefits should start to see their $1,400 stimulus payments arrive this weekend - we explain how to check if yours is due. Some 30 million struggling Americans who rely on Supplemental Security Income (SSI) have been left waiting for weeks on end. 3People on Supplemental Security Income (SSI) are desperate for news on when they will receive the checkCredit: Getty 3Americans are waiting for their third stimulus checkCredit: AFP However, recipients of SSI and other federal aid, such as Railroad Retirement Benefits, will start receiving the cash as of this weekend, the IRS said. The federal agency said it projects the majority of the payments would be received by Wednesday, April 7, at the latest. To find out where your money is, you can use an IRS Get My Payment tool. The system will ask you for your Social Security Number, date of birth, address and ZIP code. 3Many hard-hit Americans are still waiting on a checkCredit: Getty The majority of the payments will be made electronically through direct debits and payments to existing Direct...
    THOSE who receive social security and other federal aid will get their third stimulus the "same way they get their regular benefits". However, the IRS has not yet announced a date as to when the $1,400 checks will be issued to those on either Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI). 3The IRS has not yet announced a date as to when the $1,400 checks will be issued to those on either Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI)Credit: Getty Images - Getty The last update from the government agency on the matter came on March 12. "Social Security and other federal beneficiaries will generally receive this third payment the same way as their regular benefits," the IRS' update read. "A payment date for this group will be announced shortly." Federal benefits are usually distributed to SSI and SSDI recipients via their Direct Express card account. As the US Bureau of Fiscal Service explains on its website: "Federal benefit payments, such as Social Security, Supplemental Security Income (SSI) and Veterans, are...
    The U.S. Supreme Court announced Monday it will consider the constitutionality of excluding those living in Puerto Rico from a federal retirement benefit known as Supplemental Social Security Income.   If the highest court rules in favor of the U.S. territory, elderly Puerto Ricans, as well as those who have a disability, will join the country’s 50 states, the District of Columbia and the Northern Mariana Islands in benefiting from the program.   The Supreme Court will hear an appeal of a lower court ruling that established that Puerto Ricans on the island should have the same access to SSI as Americans in the mainland. The appeal was filed by the former Trump administration.  The decision to exclude Puerto Rico was made by Congress when it enacted SSI in 1972. Despite being eligible for a different program called Aid to the Aged, Blind and Disabled, Puerto Ricans do not have access to as much federal funding as SSI allows.  In August, a federal judge ruled that it was “discriminatory” to deny Puerto Ricans on the island access to federal welfare...
    WASHINGTON (AP) — The Supreme Court agreed Monday to decide whether it is unconstitutional to exclude people living in Puerto Rico from Supplemental Social Security Income. The justices said they would hear an appeal, first filed by the Trump administration, of a lower-court ruling that held that residents of the U.S. territory should have the same access to SSI benefits as older, disabled and blind Americans in all 50 states and the District of Columbia. The administration argues that a pair of 40-year-old Supreme Court decisions already upheld the federal law that created SSI and excluded Puerto Rico and other U.S. territories from it. Congress later added in the Mariana Islands. In recent months, a federal judge ruled that Puerto Rico residents should have access to other federal welfare benefits from which they have been excluded as well. A federal judge in Guam said residents of that Pacific island also should be able to collect SSI. A separate program, Aid to the Aged, Blind and Disabled, covers residents of the territories, but it has more stringent eligibility requirements and pays...
    WASHINGTON (AP) — The Supreme Court agreed Monday to decide whether it is unconstitutional to exclude people living in Puerto Rico from Supplemental Social Security Income. The justices said they would hear an appeal, first filed by the Trump administration, of a lower-court ruling that held that residents of the U.S. territory should have the same access to SSI benefits as older, disabled and blind Americans in all 50 states and the District of Columbia. The administration argues that a pair of 40-year-old Supreme Court decisions already upheld the federal law that created SSI and excluded Puerto Rico and other U.S. territories from it. Congress later added in the Mariana Islands. In recent months, a federal judge ruled that Puerto Rico residents should have access to other federal welfare benefits from which they have been excluded as well. A federal judge in Guam said residents of that Pacific island also should be able to collect SSI. A separate program, Aid to the Aged, Blind and Disabled, covers residents of the territories, but it has more stringent eligibility requirements and pays...
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