Meds, Mind, Body & Benefits > Insurance, Benefits Programs & HIV

Inheritance & Benefits

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bocker3:

--- Quote from: mitch777 on July 28, 2013, 09:42:13 AM ---That's the way it works. Actually, if you are a self made billionaire (without an inheritance) you are still entitled to these benefits. No wonder the system is going broke. Some wealthier folk claim that they should get the benefits as they have paid into the system like everyone else. I believe some means testing is needed. Why in the heck would someone making a million dollars a year need extra 20 grand or whatever from the federal government. SS means Social Security after all doesn't it?

--- End quote ---

Yep -- and that's the frustrating part for me.  I am fairly certain that SS was NOT EVER meant to be seen as a guarantee -- it was not designed as individual saving accts.  There should be no entitlement to the money "you paid in".  It should be means tested.  Think of the current set up -- those who have made the higher wages throughout life (and who most likely have other retirement income sources) get the higher payouts.  Those who have made lower wages and probably have smaller, if any, addition retirement sources get less.  It should be, at worst, reversed or at best, nothing for those with more than XXXXXX dollars.  Not to mention that the original age (not much different from today's) was beyond the, then current, life expectancy.

Ah well, as I indicated -- our gov't rarely runs on logic and we must remember, the wealthy not only vote, but give larger campaign contributions, so this isn't surprising.

Mike

mitch777:

--- Quote from: bocker3 on July 28, 2013, 11:10:29 AM ---Yep -- and that's the frustrating part for me.  I am fairly certain that SS was NOT EVER meant to be seen as a guarantee -- it was not designed as individual saving accts.  There should be no entitlement to the money "you paid in".  It should be means tested.  Think of the current set up -- those who have made the higher wages throughout life (and who most likely have other retirement income sources) get the higher payouts.  Those who have made lower wages and probably have smaller, if any, addition retirement sources get less.  It should be, at worst, reversed or at best, nothing for those with more than XXXXXX dollars.  Not to mention that the original age (not much different from today's) was beyond the, then current, life expectancy.

Ah well, as I indicated -- our gov't rarely runs on logic and we must remember, the wealthy not only vote, but give larger campaign contributions, so this isn't surprising.

Mike

--- End quote ---
I agree with everything said. I can't remember hearing from a large number of the wealthy that would get upset with means testing. Some, yes, but I doubt they would get much sympathy. Seems like a rather simple solution to help aid in the salvation of SS for those who ARE in need. Not sure why a wealthy person would give a large campaign contribution to suck out a relatively small amount of money (by their standards). I find fault with any member of congress who hasn't seen the light. Yup, I'm not sure if the word "logic" is understood in Washington. ::)

PS- I believe means testing should apply to SS retirement benefits as well.

2tcells:

--- Quote from: Habersham on July 21, 2013, 09:29:57 PM ---For SSI you may have up to $2000 in resources.

http://www.socialsecurity.gov/ssi/text-resources-ussi.htm

However, you are allowed to own - the car that you drive
and the house that you live in. Therefore, if you acquire these two items you should not have any issues. Also, if you receive a cash settlement from an estate and use it to PURCHASE either or these items you may still receive benefits but situations vary.
Things like jewelry and furs would qualify under household goods.
 
The rules for Medicaid and ADAP are similar. It's a large sum of cash that is problematic.

--- End quote ---




this is correct you may have 1 house and 1 car value of them is not a issue. 1million doller house or 20,000 doller shack. you may have land but only if you live on it, say you have a big lot you may have 2-3 or more houses if they are on the same plot of land and you live in one of them and they have the same addresses. if you get cash you have to spend it by the first of the month after you got it or you will not get paid the suplemental security income for every month you have over 2000 in recorces. resorces can be cash or valubales example: 2nd car, 2nd house with different address, jewlery, electronic ect.

hope that helps

Wolfey:
HI-
Here's my experience:
I get SSDI and my all my kids get money from my claim.  Last year my triplets got awarded SSI for their own disabilities and started getting additional payments. At the beginning of this month, I moved out of my house that I own( not outright) and moved into a house I am renting in a better school district.  I had called social security to update my address and a few weeks ago, they called to review the triplets cases and they took away their SSI payments starting in Oct because I own the house I am not living in.  Their logic is I could sell the house and make money off it?  I am going to talk to a lawyer about it in October, it doesn't seem like they should take payments away immediately, I don't know anyone that can get a house ready to sell and actually sell it in a month.
Good luck!

tednlou2:
Yes, you can inherent $100 million and still be eligible for SSDI.  Personally, I think there should be a cut off for anyone to receive social security.  And, I think they need to raise the cut off when people stop paying into it.  I think it is somewhere around $100,000 a year, and you don't pay more over that.  But, I digress.

I had someone tell me that there is some trust (or some kind of account) you can put your inheritance into, to avoid problems with SSI and other services.  Not sure if they are correct or what the trust is called.  I would ask an attorney.  I mean, it would be a shame for someone to lose benefits over a modest inheritance. 

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