Supplemental Security Income (SSI) is a program targeted to aid the most marginalized people in society. Commonly, beneficiaries are people who are older or disabled regardless of their work history. SSI payments and prerequisites have stayed stagnant while inflation in 2022 has risen 8.3% and has seen a dramatic increase in housing costs.
NPR reported the increased risk of SSI recipients falling into homelessness. One of the requirements that is most responsible is the $2,000 cap on savings a person can have in order to receive SSI. In April 2021, forty lawmakers wrote an open letter to President Biden requesting an update to the SSI standards. A bipartisan group has proposed
the SSI Savings and Penalty Elimination Act which includes an increase to the savings cap from $2,000 to $10,000. This increase would allow recipients to save for more permanent housing.
The issues surrounding SSI benefits were exacerbated due to the COVID-19 pandemic because the Social Security Administration closed 1,200 offices nationwide. The closure of the offices limited people’s ability to enroll or update information if they were unable to access applications online. Phone lines were overwhelmed with calls. People who were eligible for SSI were unable to access their benefits. Transitioning back from the pandemic, the SSA looks to streamline the process of helping people get their benefits. Look for updates as the SSI Savings and Penalty Elimination Act moves through the legislative process.