Fact Sheet Savings and Hardship Avoidance Among Households Headed by People with Disabilities: Implications for SSI
Gregory B. Mills, Sisi Zhang
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For households headed by persons with disabilities, savings can provide near-term protection against hardship. Analysis of longitudinal data from the 2001 panel of the Survey of Income and Program Participation indicates that households with $2,000 or more in liquid assets (interest-earning assets held at financial institutions) are better able to avoid subsequent hardships such as forgone doctor visits and missed utility payments, compared to those with smaller (or no) asset holdings. This evidence has implications for possible increases in the resource limits for the Supplemental Security Income (SSI) program, now $2,000 for individuals and $3,000 for couples.
Research Areas Social safety net
Tags Low-Income Home Energy Assistance Program (LIHEAP) Hunger and food assistance Families with low incomes Financial stability
Policy Centers Center on Labor, Human Services, and Population