The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was passed in response to the COVID-19 pandemic, included provisions for stimulus checks to be sent to eligible individuals. These stimulus checks, also known as Economic Impact Payments (EIPs), were intended to provide financial assistance to individuals and families affected by the pandemic.

If you are receiving Supplemental Security Income (SSI) benefits, you may be wondering if the stimulus checks will affect your benefits. The short answer is that stimulus checks should not affect your SSI benefits.

SSI is a needs-based program administered by the Social Security Administration (SSA) that provides financial assistance to low-income individuals who are disabled, blind, or over the age of 65. SSI benefits are based on an individual's income and assets, and the SSA has strict limits on both.

Income is defined as any money you receive from any source, including wages, self-employment, investments, and gifts. The SSA does not count the entire amount of your stimulus check as income for SSI purposes. Instead, only the portion of the stimulus check that exceeds $2,000 for an individual or $3,000 for a couple is counted as income.

Assets are defined as any property or resources that you own, including savings accounts, stocks, and bonds. The SSA has an asset limit for SSI of $2,000 for an individual and $3,000 for a couple. Stimulus checks are not considered assets for SSI purposes, so they will not count towards the asset limit.

It is important to note that the SSA regularly reviews the income and assets of individuals receiving SSI benefits to ensure that they continue to meet the eligibility requirements. If your income or assets exceed the limits, your benefits may be reduced or terminated. However, the stimulus check should not affect your SSI benefits as long as the portion that exceeds the income limit is not counted towards your income and the check itself is not counted towards your assets.

If you have any questions or concerns about how the stimulus check may affect your SSI benefits, it is a good idea to contact the SSA or speak with a financial advisor. They can provide more information and guidance on how the stimulus check may impact your benefits.

In conclusion, the stimulus checks provided by the CARES Act should not affect your Supplemental Security Income (SSI) benefits. The SSA will not count the entire amount of the stimulus check as income for SSI purposes, and the check itself will not be counted as an asset. However, it is always a good idea to contact the SSA or speak with a financial advisor if you have any questions or concerns about how the stimulus check may impact your benefits.