No. You can keep your federal and state benefits (SSI, SSDI, Medicaid, SNAP, TANF, HUD Assistance, Section 8, etc.) with an account. If you receive SSI, there is a $100,000 limit before funds start counting against your $2,000 asset limit. As long as the money withdrawn is used for eligible expenses, it won’t count toward the limit.
Housing expenses are not a countable resource for SSI if they are paid directly from the account to a third party or withdrawn and paid in the same month. Withdrawals retained for Qualified Disability Expenses, other than housing, are not a countable resource for SSI. These funds must remain unspent and identifiable and are excluded in the months leading up to the actual expenditure.
