SSI Savings Penalty Elimination Act updates resource limits for Supplemental Security Income eligibility.

The SSI Savings Penalty Elimination Act amends the Social Security Act to update the resource limit for Supplemental Security Income eligibility. It raises the limit for individuals from $2,250 to $20,000 in 2025 and for couples from $1,500 to $10,000 in 2025. These limits will increase annually based on the consumer price index. This change aims to ensure that more individuals and couples qualify for SSI benefits by reflecting current economic conditions.

SSI Savings Penalty Elimination Act updates resource limits for Supplemental Security Income eligibility.

The SSI Savings Penalty Elimination Act amends the Social Security Act to update the resource limit for Supplemental Security Income eligibility. It raises the limit for individuals from $2,250 to $20,000 in 2025 and for couples from $1,500 to $10,000 in 2025. These limits will increase annually based on the consumer price index. This change aims to ensure that more individuals and couples qualify for SSI benefits by reflecting current economic conditions.