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An asset test is a rule that limits your money and property. You can still get a benefit like SSI or SNAP if you stay under the limit.
The program adds up cash, bank accounts, and certain property you could turn into cash. Some things, like your main home or one car, are usually left out of the count. If the total goes over the limit, that can affect whether the benefit continues.
This word shows up in SSI and SNAP applications and reviews, next to a question about savings and property.
“cash or other liquid assets or any real or personal property that an individual (or spouse, if any) owns and could convert to cash to be used for his or her support and maintenance.”
Programs
This word shows up in real letters. Start with your letter
Related words
Deeming
Deeming is counting part of another person's income as if it were your own. A program does this with a spouse or parent's income or resources.
Countable income
Countable income is the part of your money a program counts toward the limit. Certain amounts are excluded first, before the comparison is made.
Spend-down
Spend down is a way to lower your countable income using medical bills. You subtract bills from your income until you reach a state's Medicaid limit.
Categorical eligibility
Categorical eligibility lets a household skip a SNAP test. This is the income or asset test. Everyone in it already gets SSI or TANF.
Sources
- Cornell Law School Legal Information Institute (e-CFR mirror)Retrieved 2026-07-08
Last reviewed 2026-07-08