Back in 2020 when the first Economic Impact Payment (EIP), more commonly known as the stimulus check, was rolled out the Social Security Administration made it be known that SSI recipients who would were eligible for the payment would not have to worry about losing their SSI. There was a small catch that came with that declaration; the caveat being that you would need to spend down the payment to be back below $2000 within 12 months of getting that much needed check.
There has been something of a change of heart by Social Security and it’s great news for all SSI beneficiaries. Earlier this month it was announced that the agency have decided that stimulus checks should actually be classified as ‘disaster assistance’ and thus shouldn’t count as a resource at all at any time. You can save the money or spend it but no matter what you do with it it’s not going to make you lose your SSI.
In further acts of generosity Social Security also classified a number of other COVID- related relief payments as not countable resources, and will be re-establishing SSI eligibility for anyone who lost it under the old rules.
To read more about the policy change you can go here: Coronavirus Disease (COVID-19) | SSA