$2,000 for SSI. $100,000 for ABLE. $500,000 lifetime. These numbers matter and they interact in ways most people find confusing. Three lessons to make them clear.
The SSI $2,000 asset limit only applies to countable assets. This is the key detail most people miss.
Not counted. Your home you live in. One car for transportation. Household goods. Personal effects. A burial fund up to $1,500. Life insurance under $1,500.
Counted. Cash. Checking and savings accounts. Investment accounts. Second cars. Real estate you do not live in. Bonds and stocks.
This is why so many people are shocked to lose SSI over small amounts of savings. The bank account is fully counted while their house is not.
The $100,000 ABLE ceiling is a special protection just for SSI. It is 50 times the regular asset limit.
Below $100,000. Full SSI, full Medicaid, ABLE money invisible to both programs.
Above $100,000. SSI pauses. Medicaid stays. Interest and investment growth still tax-free.
Most people never reach $100,000 during their working years. If you do, you can also start planning with a Special Needs Trust for money beyond that.
The $100,000 SSI protection is federal. But each state sets a separate lifetime cap on how much total money the account can hold.
Range. Illinois and California cap at $596,000. Ohio caps at $482,000. Small states cap around $300,000.
This cap includes interest, dividends, and investment gains. If your account grows above the cap, no new contributions can go in until the balance drops back down.
How to plan. If you or family expects to save a lot over decades, pick a state ABLE plan with the highest cap that will accept you. Most states accept people from any state.
Take what you learned into the next step. Or ask ReachABLE anything else.