Don’t Let Stimulus Payments Take Away your SSI and Other Benefits

CalABLE and Stimulus Payments
SSI and Stimulus Checks
If you receive Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI), you may be wondering when you will receive your $1400 stimulus payment recently approved by Congress. According to the IRS, a payment date for SSI and SSDI recipients will be announced as soon as the information is available. In general, many Americans have already received payments or will be receiving them soon, but for those receiving benefits, it might take a little longer. The IRS will use information already on file to send out checks, even if an individual has yet to file a return. They have also already indicated that SSI and SSDI benefits automatically qualify to receive a payment, with no additional action required.

How will I be paid for my third stimulus check?
Most SSI and SSDI recipients will receive this new stimulus payment, the same way they received the payments for stimulus 1 and 2.

Will this stimulus payment be counted as income or affect my benefits?
Like the first two stimulus payments, this third payment is not counted as income and won’t affect your benefits at all. The money can be used for any reason, even for items above and beyond basic living expenses. The money is also protected from being counted as a resource for twelve months. After 12 months, any unspent stimulus money can be counted as a resource by Social Security. If you receive SSI and have more than $2,000 ($3,000 for a couple) in assets, you may be required to spend that money down or risk having your benefits being suspended. SSDI recipients do not have this $2,000 limit.

Is there anything we can do to avoid having benefits suspended?
For the first 12 months, your stimulus money will not be counted as a resource. After 12 months, any remaining funds will be counted and could result in a suspension of your SSI benefits. Depositing your money in a CalABLE account will prevent your money (up to $100,000) from being counted against benefits. For more information regarding opening a CalABLE account, please visit our website.
If you have any questions about the CalABLE program, please email us at calable@treasurer.ca.gov.
Sincerely,
CalABLE Staff

Leave a Reply

Your email address will not be published. Required fields are marked *