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Glossary term

Asset limit

Definition

The maximum amount of money and property you can own and still qualify for a benefit program.

An asset limit is the highest amount of cash, savings, property or other valuables you're allowed to have and still be eligible for certain government benefits. It's different from an income limit, which is about how much money you earn each month.

For example, if a program has a $3,000 asset limit, you can't have more than $3,000 in a savings account and still qualify—even if your monthly income is low enough.

Not all benefit programs have asset limits. Some focus only on income. Others have removed asset limits or made them very high. A few programs count assets but don't count a car or your home.

If you're close to an asset limit, it's still worth applying. Only the agency decides if you qualify, and applying is free.

Programs where this matters

LIHEAPState-run · HHS Administration for Children and FamiliesLIHEAP helps households with low income pay heating and cooling bills, and may help in an energy crisis such as a shut-off notice.MedicaidState-run · Centers for Medicare & Medicaid ServicesMedicaid is free or low-cost health coverage run by each state with federal funding, for children, adults, pregnant people, older adults and people with disabilities.SNAPState-run · USDA Food and Nutrition ServiceSNAP gives monthly benefits on an EBT card to help households with low income buy food.WICState-run · USDA Food and Nutrition ServiceWIC gives healthy foods, nutrition education and breastfeeding support to pregnant women, new mothers, infants and young children with low income.Extra HelpFederal · Social Security AdministrationExtra Help may lower what people with Medicare and limited income and resources pay for Medicare Part D prescription drug coverage.MSPState-run · Centers for Medicare & Medicaid ServicesMedicare Savings Programs help people with Medicare who have limited income and resources pay Medicare costs such as premiums.SSIFederal · Social Security AdministrationSSI pays monthly cash to people with limited income and resources who are older, blind or have a disability.Section 8Local · US Department of Housing and Urban DevelopmentHousing Choice Vouchers, often called Section 8, help families with low income pay rent for a home they find in the private market.TANFState-run · HHS Administration for Children and FamiliesTANF gives cash help and support services to families with children who have low income. Each state runs its own program.