Feb
24
2012
By Guest (not verified)
i have about $7,000 in my joint account w/ my SSI payee and my SSI benifits stopped , will my benifits restart when my assets go down to 2,000? also will health coverage be suspended?
SSI when resources exceed the $2,000 limit
You may want to contact Social Security directly regarding this.
I'm not sure how your assets will go down to $2,000. If this is done by transferring the assets to a family member or similar you'll want to be careful. Since December 14, 1999, giving away a resource or transferring it for less than it is worth can make a person ineligible for SSI for up to 36 months.
http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/357
http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/412
SSI BENIFITS stopped cause assets exceed 2,000$
my assets are in dollars in a joint checking account w/ my SSI payee
Representative payee and joint account
I recommend working directly with the SSA regarding this. However, please note the following from SSA documents regarding representative payees :
Do not use joint accounts. Here are two ways we recommend to title the accounts:
* “(Beneficiary’s name) by (your name), representative payee.”
* “(Your name), representative payee for (beneficiary’s name).”
Your bank will provide help if you have additional questions.
http://www.ssa.gov/pubs/10076.html