If you mean $84,000, the yes, your eligibility will be effected. You need to report your winnings to the Social Security Administration right away. You could speak with an experienced special needs trust attorney in your area, since it is possible that putting the money into such a trust would keep you eligible for your benefits.
Attorney Inga Stevens is licensed in Maine. She provides general information on Avvo.com. No attorney-client relationship arises out of the information given here.
I agree with Attorney Stevens - if as you posted you are receiving SSI (Supplemental Security Income) disability benefits you should consult with a lawyer well versed in special needs trusts as the lottery winnings definitely will impact your SSI benefits.
But, there is occasional confusion amongst recipients of which type of benefits one is receiving. Your posts mentions 'work' - generally if folks have enough work credits then become disabled they apply for Social Security Disability (SSD or SSDI) benefits based on their work history. SSI is an income and resource tested program for people without enough work credits to get SSD.
Why does this matter? Because lottery winnings surely will impact SSI benefits but will have no effect on SSD benefits.
SSD is financed with Social Security taxes paid by workers, employers, and self-employed persons. To be eligible for a Social Security benefit, the worker must earn sufficient credits based on taxable work to be "insured" for Social Security purposes. The worker will get Medicare coverage automatically after receiving disability benefits for two years. The amount of the monthly disability benefit is based on the Social Security earnings record of the insured worker.
SSI is financed through general revenues from taxes, meaning benefits are not based on your prior work history. In most states, beneficiaries will automatically be eligible for Medicaid. Eligibility requirements: have limited income and resources, meet the living arrangement requirements, be a U.S. citizen or national, or in one of certain categories of aliens. The monthly payment varies up to the maximum federal benefit rate, which may be supplemented by the state.
Information on this site is provided by Brian Scott Wayson as general information, not legal advice, and use of this information does not establish an attorney-client relationship. If you have questions about your specific situation, please call an attorney.
Good answers by both my colleagues. Verify what you are getting and proceed from there.
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