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Eligible citizens with disabilities can access social security benefits from the Social Security Administration. These benefits could also are called Supplemental Security Income (SSI).
When processing claims for social security retirement benefits or disability benefits, you’ll need to provide their Social Security number and bank account details. A representative payee may serve as a direct beneficiary for those unable to process their SSI payment. This representative payee cannot be a debt collector of some sort.
Providing these details is necessary because you may receive the SSI deposit through a direct deposit from the SSA.
However, the Social Security Administration also monitors this bank account to track your balances and assess legibility for Social Security disability insurance. The SSA wants to stay updated regarding your money, income, assets, and other forms of resource.
If you have yet to claim SSI benefits or have already availed of this, you should be aware that the Social Security Administration checks your bank accounts.
How often does SSI check my bank accounts?
That being said, how frequently does the Social Security Administration check your bank account?
While the number of times SSI checks your bank account is not standardized, it may be anywhere from a single year to six years. The SSI can also check when you go through life-altering experiences.
Checking the money in the bank account is also vital to the SSI redetermination process. But before looking into this process, let’s first see whether the overall resources and standing balance affect eligibility for SSI payment benefits.
Could money in my savings account disqualify me from SSI benefits?
The SSI keeps your bank account in check because they need to monitor the money you carry inside of it constantly. Doing this is necessary because the money in your account can determine your eligibility.
So yes, the money inside your bank account may disqualify you from Social Security disability benefits.
This 2022, the SSI has set the ceiling for eligibility. A couple or person’s total countable resources must not exceed these amounts.
- $3,000 for couples
- $2,000 for individuals
The US law requires each recipient of an SSI benefit to report their assets and income to the SSI.
Even if you are a current recipient of Social Security disability benefits, the SSI conducts periodic redeterminations to reassess eligibility to receive money. In this process, the SSI checks your income, resource, and living arrangements to see if you are still eligible for a disability benefit.
Can SSI see what you buy?
Contrary to popular belief, SSI does not look into the purchases you make. While financial institutions may share transactional data with government agencies when required by law, SSI recipients can rest assured that their purchasing choices remain private. The EBT system adds an extra layer of privacy, allowing you to make purchases discreetly.
SSI is designed to help individuals meet their basic needs, such as food, clothing, and shelter. It does not scrutinize or restrict specific items or transactions. Therefore, beneficiaries can use their SSI funds for various purchases according to their personal needs and preferences.
Some people have pointed out that financial institutions, such as banks or credit card companies, may share transactional data with government agencies under certain circumstances, such as legal requests. Strict privacy laws govern this information sharing and are not specific to SSI recipients alone. All financial institutions must reveal data when ordered by law, but there’s no constant monitoring of individual accounts.
To further protect beneficiaries’ privacy, the Electronic Benefit Transfer (EBT) system is often used to distribute SSI funds. EBT cards function like debit cards, allowing individuals to make purchases discreetly without disclosing the nature of their transaction to the cashier or anyone else.
How should I prepare for an SSI redetermination?
All that being said, you need to get ready for this SSI redetermination process. But what exactly should you prepare?
Here are some things that the SSA would look into during the redetermination process to gauge your current resource and prevent overpayment of supplemental security income.
- Payment stubs
- Bank deposit statements
- Other proofs of income resources (unemployment, pensions, compensation, etc.)
- Policies of life insurance
- Receipts that document monthly expenses (rent, utilities)
- Burial contracts
The SSA will look into all these to gauge your current resource and prevent overpaying supplemental security income. With this, you must prepare all these documents for the process.
Any other tips or things to keep in mind?
When preparing for the SSI redetermination process, you should also keep these things in mind.
- Various factors determine when SSI redetermination takes place. Adults tend to be reevaluated from one to six years. Life-changing events may trigger SSI redetermination.
- SSI redetermination does not mean that you will lose your eligibility. While there is a possibility that you will get disqualified, it is not always the case. You may still be qualified and regularly receive money as part of the SSI.
- SSI redetermination can take place via call, mail, or in person. The mode of conducting the redetermination process may vary.
- You must respond to the SSA’s appointment letter and finish the return file. Failing to do so could lead to stopped payments, underpaying, or overpaying. You must promptly respond within 30 days from the day of receipt.
- You can file an appeal once the SSI redetermination results are out. If you do not agree with the results, you can appeal by submitting the Request for Reconsideration form to your local Social Security office. You can file this appeal within 60 days of the SSI decision notice issuance.
How We Can Help
Our team can help you go through the SSI redetermination process effectively. Whether you need help claiming disability benefits or going through the redetermination process, our partners can legally represent you and do the job for you.
Our services are designed to simplify the entire process for you, so rest assured that you can entrust the whole process to our experienced team and legal advisors.
Contact us at Benefits.com to see if you may be eligible for help with your SSDI or SSI claim. We’re here for you—today!