Social Security is not welfare and there is no way the government can 'qualify' the 'deserving' from the wealthy.
If the is tried as an answer it is an empty provision and simply politics. If the government is going to make the SSI system a matter of qualifying it is then turning it into a tax and not an entitlement. I do not believe it is constitutional to do so.
I believe there is a provision that allows people to accept a single payment at the beginning of the payments, but, it never reflects what one will get over a life time of payments.
But, that isn't the primary reason why it won't work.
The wealthiest Americans can afford advisors and there are ways to circumvent the 'qualification' aspect of SSI. People can spend down their assets and can appropriate them to other people in their lives to manage their affairs. Wall Street will figure out a way to manage income and assets when an American is nearing retirement so they can qualify for their SSI payments. That simply isn't going to work the way the panel believes it will. I believe that is very naive to consider that as possible. Besides it will add government workers and investigators to enforce that provision.