A bill to change SSI benefits for elderly, blind, and disabled Americans would update a program that has not been changed in decades, Ohio Senator Sherrod Brown said when he introduced the bill.
The SSI Savings Penalty Elimination Act would raise asset limits that keep around 8 million Americans who receive those federal benefits from having more savings tucked away.
The program currently has a $2,000 cap for individuals and $3,000 for couples, and the legislation would look to increase those limits to $10,000 and $20,000, respectively, CNBC reported.
The limits have not been updated since 1989.
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Benefits could be easier to access
A portal for Medicare claimants is also in the works that will target ways they can save money on healthcare and drugs.
“You should be able to apply for Social Security benefits without needing to go to a Social Security office and have Medicare proactively reach out to you with the tools you need to manage your health and save money,” Mr Biden told reporters ahead of signing the order.
Other Americans who get benefits such as food stamps will also find it easier to receive them and to confirm their eligibility and income, Bloomberg reported.
Executive order on benefits
Americans could get their hands on Social Security, food stamps, and other government benefits faster under a new executive order.
Signed by President Joe Biden late last year, the order will require the Internal Revenue Service (IRS) to call back Americans rather than placing them on hold.
Social Security benefit seekers will also get a new online tool that aims to cut waiting times.