Editing Supplemental Security Income (section)

===Resources===
Another requirement for SSI is that the individual's resources be below a certain limit. This amount is $2,000 for an individual and $3,000 for an individual and their spouse (whether the spouse is eligible for SSI or not), $4,000 for a child applicant with one parent living in the household, and $5,000 for a child applicant with two parents living in the household.<ref>(''SSA'' POMS SI 01110.003)</ref> However, conditional benefits may be paid if a substantial portion of the resources are considered non-liquid, resources that cannot be sold within 20 working days,<ref>(''SSA'' POMS SI 01110.300)</ref> if they agree to sell the resources at their current market value within a specified period and repay the money after the non-liquid property is sold.<ref>(''SSA'' POMS 01150.200)</ref> However, not all actual resources are counted in calculating an individual's or couple's resources for SSI purposes.<ref>(''SSA'' POMS SI 01110.210)</ref><ref>{{Cite web|url=https://www.ssa.gov/ssi/text-resources-ussi.htm|title=Understanding SSI - SSI Resources|last=ORDP|first=OISP|website=www.ssa.gov|access-date=2020-04-29}}</ref>

The resource limits were originally set at $1,500 for an individual and $2,500 for couples in 1974,<ref>(24 CFR 416.1205)</ref> and were not linked to inflation. In 1987, the limits were raised to $1,800 and $2,700, in 1988, to $1,900 and $2,850, and, in 1989, to $2,000 and $3,000.<ref>{{cite web|url=http://www.socialsecurity.gov/OP_Home/handbook/handbook.21/handbook-2166.html|title=What are the statutory resources limits?|last=SSA,ORDP,OPPS|website=www.socialsecurity.gov}}</ref> Under current law they will remain at present levels indefinitely.

The one exception to the general asset limit is the [[ABLE account]], which was established with the signing into law of the ABLE Act of 2014 (standing for Achieving a Better Life Experience Act) on December 19, 2014, This tax-advantaged account was codified under the newly added Section 529A of the Internal Revenue Code.<ref>{{cite press release|url=http://www.casey.senate.gov/newsroom/releases/caseys-able-act-becomes-law-with-president-obamas-signature |title=Casey's ABLE Act Becomes Law with President Obama's Signature |publisher=[[Bob Casey, Jr.|Senator Robert P. Casey Jr.]] |date=December 19, 2014 |access-date=January 22, 2015}}</ref> Details of the accounts, which officially came into effect once the [[United States Department of the Treasury|Treasury Department]] issued enabling regulations and states passed legislation regarding account administration, are:<ref>{{cite web|url=http://www.ndss.org/Advocacy/Legislative-Agenda/Creating-an-Economic-Future-for-Individuals-with-Down-Syndrome/Achieving-a-Better-of-Life-Experience-ABLE-Act/ |title=ABLE Act Overview |publisher=National Down Syndrome Society |access-date=January 22, 2015}}</ref>
* Accounts can be established by or on behalf of a disabled person, provided that the beneficiary's disability began before age 26.
* Annual contributions to an account are limited to the same amount as the gift tax exclusion for an individual ($15,000 since 2014). The upper limit for lifetime contributions is the same as that for a 529 educational plan in the disabled person's state of residence. Contributions are not tax-deductible, but income earned in an account is not subject to tax.
* Tax-free withdrawals can be made for "qualified disability expenses", including but not limited to education, housing, transportation, employment-related expenses, assistive technology, and healthcare.
* There are special statutory rules regarding the accumulation of ABLE account assets for individuals on SSI and Medicaid. The first $100,000 in an ABLE account is not counted as an asset for purposes of SSI eligibility. Once an ABLE account balance exceeds $100,000, the beneficiary's SSI payments are suspended until the account balance drops below $100,000. However, the beneficiary remains covered by Medicaid regardless of the account balance.