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they already have other income. Some get more because they live in a State that adds money to the federal payment,” said Mrs. Crumpton.
A person who is single (or married but not living with his spouse) can have assets—things he owns— worth up to $1,500 and still get payments. The amount for a couple is $2,250. This includes savings accounts, . stocks, bonds, jewelry, and other valuables.
Not everything owned counts as an asset. A home with a market value of $25,000 or less doesn’t count. And the Federal Government will not ask for liens on the homes of people who get supplemental security income.
PERSONAL effects or household goods also do not count as assets in most cases. Insurance policies or a car may not affect eligibility -either, depending on their value.
People can have some money coming in and still get supplemental security income.
The first $20 a month in income generally isn’t counted. Income above the first $20 a month (apart from earnings) generally reduces the amount of the supplemental security income payment. This includes social security checks, veterans compensation, workmen’s compensation, pensions, annuities, gifts, and other income.
95.7%