What is the asset limit for an individual to qualify for SSI?

The correct answer is that an individual must have assets of less than $2,000 to qualify for Supplemental Security Income (SSI). This asset limit applies to resources that can be converted to cash and used for support, which includes savings accounts, cash, and property that is not necessary for daily living.

The SSI program is designed to provide financial assistance to individuals who have limited income and resources and who are disabled, blind, or aged. The $2,000 asset limit is a crucial aspect of the eligibility criteria, ensuring that only those with minimal financial means receive this assistance. By maintaining this threshold, the program aims to direct resources to those who need them most and prevents individuals with substantial assets from qualifying for the benefits.