Official Transcript: How much money can you have in the bank on Social Security Disability Benefits?
Hi, I am Sharon Christie, your nurse attorney for Social Security Disability Benefits. There seems to be a lot of confusion among people about whether you can actually have money in a savings account or a checking account when you apply for Social Security Disability and once you are awarded Social Security Disability Benefits. So today lets answer the question, how much money can you have in the bank on Social Security Disability Benefits.
The reason for this confusion I believe is because there is another program called the SSI disability program that is based on your work history. You have worked long enough paying your Social Security tax and now you can no longer work and you are applying for disability benefits. Social Security for those cases does not care how much money you have in a checking or savings account. You could be a very rich person but still be unable to work. Now you have worked most of your life but cannot work now, and you could apply for Social Security Disability. The confusion comes because there is another disability program called the SSI or Supplemental Security Income program. That is an asset-based program and there are definitely limits on how much money you can have in a savings or checking account in order to qualify to apply under that program, but if your case is based on your work history then it doesn’t matter how much money you have in your savings or checking account.
About Sharon Christie Law:
Sharon Christie is the owner and founder of Sharon Christie Law, and is an attorney and former nurse. Her team of professionals and paraprofessionals help people win Social Security Disability Benefits! Our Social Security Disability Law Firm serves clients in Maryland, Southern Pennsylvania, Northern Virginia, and Washington DC.