Sharing an important update from The Arc of New Jersey:

The Social Security Administration (SSA) has released important new updates that will affect current and future Social Security beneficiaries.

First, the SSA announced a significant reduction in the automatic overpayment recovery burden, from 100% to 10% (or $10, whichever is greater). When a person has been overpaid by the SSA, which can sometimes go on for months or years before the person is notified by SSA, the law requires SSA to reclaim those funds, often creating significant financial hardship for an individual and their family. Now, as of March 25, 2024, the agency will collect 10% (or $10, whichever is greater) of a person’s total monthly Social Security benefit to recover an overpayment, rather than 100%. Read more by clicking here.

Second, the SSA published a new rule regarding the In-Kind Support and Maintenance (ISM) calculations. Under the previous rules, ISM includes food, shelter, or both that a person receives, which is counted as unearned income and can affect a person’s SSI eligibility or reduce their SSI monthly benefit by as much as 1/3rd. Under the new rule, beginning September 30, 2024, food will no longer be included in the ISM calculation. This new rule will help SSI beneficiaries receive greater monthly payments, reduce month-to-month variability in benefit amounts, and eliminate the burden on beneficiaries in reporting monthly food assistance. To read the full press release, click here