WebOct 27, 2024 · Presumed Maximum Value* (PMV) Value of 1/3 Reduction (VTR) Eligible Individual . In a household. $623.00. $227.66. N/A. In household of another 1. $623.00. … WebMar 5, 2024 · We calculate in-kind support and maintenance using the PMV rule or VTR rule, as follows: Presumed Maximum Value (PMV) ($264.33/month in 2016 or actual value of …
In-Kind Support and Maintenance – A Trap for the Unwary
WebBy default, it goes down by one-third of the maximum SSI benefits amount plus $20. For 2024, this Presumed Maximum Value (PMV) is $324.67 for an individual. However, if the … WebThis is called the Presumed Maximum Value (PMV). For example, if an adult SSI recipient is living in an apartment and his parents are paying his rent valued at $800 per month, his SSI will be reduced by $244.66 each month. If they were paying only $100 of his rent, then his benefit would be reduced only by $100. northeast ohio ob gyn kent oh
2024 Social Security/SSI/Medicare Information
WebJan 1, 2014 · When the client receives an SSI payment. Do not require an SSI recipient to establish an unearned income in-kind. The SSI program develops PMV for SSI recipients and will reduce the payment if they find that a recipient receives in-kind income for food or shelter. 3. NEVER count PMV for MAGI-based or Family Medically Needy programs. 4. WebIn those States, if the required amount of rent is less than the presumed maximum value, we will impute as in-kind support and maintenance, the difference between the required amount of rent and either the presumed maximum value or … WebThe exact amount your maximum SSI benefits go down depends on your situation: By default, it will go down by one-third of the maximum SSI benefit plus $20. For 2024, this … how to retype what you just typed