Don’t worry - If you believe you may be eligible for Supplemental Security Income payments, this post will give you an easy-to-understand rundown of everything you need to know about SSI.
Keep on reading if you want to gain a better understanding and determine if you’re eligible like the 7.6 million Americans that collected SSI benefits in 2022.
Supplemental Security Income, or SSI, is a needs-based program administered by the Federal Social Security Administration.
SSI provides cash assistance to eligible low-income individuals and families who are blind or have restricted disabilities. In general, SSI benefits are available to those who earn less than $2,000 per month (or $3,000 for couples).
Supplemental Security Income is an important safety net program that helps millions of Americans cover their basic living expenses. Without SSI benefits, many of these individuals and families would likely face significant financial hardship.
To put it simply, Supplemental Security Income is intended to provide basic financial assistance to those who need it most. For many people living on limited incomes, SSI benefits can mean the difference between making ends meet and falling into poverty.
SSI is funded by general tax revenue, not by Social Security taxes. This means that even if you have never worked or paid into Social Security, you may still be eligible for SSI benefits.
To qualify for SSI, an individual must have little to no income and few assets. The SSA considers both earned and unearned income when determining eligibility for SSI.
Earned income includes wages from a job or self-employment, while unearned income includes alimony, child support, interest on investments, and pensions.
In addition to income, the SSA also looks at an individual's assets when determining eligibility for SSI. Assets are cash savings, checking account balances, real estate other than the home in which the individual resides, and vehicles worth more than $4,500.
If an individual has too much income or too many assets to qualify for SSI, they may still be eligible for benefits through the Social Security Disability Insurance program.
In order to qualify for SSI benefits, applicants must first meet certain income and resource requirements.
You can use the Benefits Eligibility Screen Tool found here to get a better idea of whether or not you’re eligible. It only takes around 5 to 10 minutes and can help you determine, not only if you qualify for SSI, but if your situation applies to any other qualified benefits.
In addition, the Social Security webpage has an extensive booklet dedicated to understanding SSI eligibility in depth. It is detailed, breaking each subject up into smaller sections to provide more straightforward navigation. Income requirements vary depending on the applicant's living situation, but SSI benefits are generally available to those who earn less than a certain dollar amount per month (as described in the extensive booklet regarding Understanding Supplemental Security Income (SSI)).
The Social Security Administration reduces SSI benefits for those who have other sources of income, such as Social Security Benefits, pensions, interest-earning accounts, or child support.
Resource requirements limit the amount of cash and other assets an applicant can possess, and, still be eligible for benefits. For example, as of 2021, an individual applicant is allowed to have up to $2,000 in countable assets (cash, bank accounts, mutual funds, stocks, bonds, etc.), while a married couple can have up to $3,000 in countable assets.
To begin the process of determining your eligibility for SSI benefits is to apply online at www.ssa.gov/applyforbenefits. You will find a complete list of the required documentation needed. If you are unable to apply online, you can call direct to the Social Security Administration at 1-800-772-1213 from 8:00 am until 7:00 pm, Monday-Friday. The prompts enable you to apply over the phone or, to make an appointment to apply in person at your local Social Security office.
When you apply for SSI benefits, you will need to provide:
Your full name (as it appears on a government-issued ID)
Date of birth
Social Security Number
Current mailing address
Phone number
E-mail address (this is often optional)
In addition, the Social Security Administration Office will request proof of your identity, proof of U.S. citizenship or lawful alien status if you are not a U.S. citizen, proof of age if you are 65 or older, and proof of blindness or any disability, if that is the reason you are applying for benefits, and proof of income.
Once you have submitted your application for SSI benefits, a Social Security representative will contact you to set up an interview. Afterward, you will receive an appointment confirmation by mail, email, or both as a reminder. During this interview, the representative will ask questions about your background, work history, medical conditions, and other topics related to your eligibility for SSI benefits.
After the interview is complete, the Social Security Administration will review all of the information they have collected and determine whether or not you are eligible for benefits, and the amount you qualify for. You will be notified by mail regarding the disposition of the application, along with the details of your case.
Many individuals may find navigating government programs to be intimidating or overwhelming. To simplify the process, we have included frequently asked questions regarding Supplemental Security Income benefits.
How Much Am I Able To Receive With SSI Benefits?
Each person’s benefit payout is unique. However, Supplemental Security Income maximum payments for 2023 are as follows:
An individual: $914 per month
An individual with an eligible spouse: $1,371
An essential person (a care-taker, or child taking care of a parent): $458
How Are SSI Monthly Amounts Determined?
Monthly amounts for the following year are determined by increasing the annual benefit amounts for the current year by the cost-of-living predictions for January of the next year, and, dividing by 12.
Found on the Social Security Administrations webpage is a breakdown so you can gain a better understanding:
Can I Get Social Security and SSI At The Same Time?
The answer is, yes. Many people meet the eligibility requirements and can receive both Social Security and Social Security Income (SSI). If your SSI monthly income does not exceed $794, you will be able to receive SSI and Social Security retirement at the same time.
The following is a synopsis:
Social Security is a federal program that provides benefits to retirees, disabled adults, and surviving spouses and children of deceased workers.
Supplemental Security Income (SSI) is a needs-based program that provides benefits to low-income adults and children who are blind or have a diagnosed disability.
What does this mean for you?
If you believe you might be eligible for both programs, you would have to apply separately for both. For Social Security benefits, apply online at ssa.gov or by calling 1-800-772-1213. And, to apply for SSI, you will need to contact your local Social Security office or visit ssa.gov/ssi/.
Once you've applied for both programs, the Social Security Administration will review your applications. They will determine whether you are eligible for benefits under one or both programs. Upon approval of eligibility by the Administration, you will start to receive the benefits to which you are entitled.
Applying for Supplemental Security Income can be a complex process. Get in touch with Mindset and we will assist you through the application process.
SSI is a government program that provides monthly benefits to people with limited income and resources who are disabled, blind, or senior citizens, 65 or older, and who meet certain financial criteria. Blind or disabled children may also qualify for SSI.
Knowing that applying for Supplemental Security Income can appear to be a daunting task, following these simple steps and reaching out for help if needed, can simplify the process of receiving vital government benefits.
If you think you may be eligible for SSI benefits, contact Mindset. Don't wait – get started on your application today!
Megan Simmons
September 19th, 2024
2 min read
Mindset streamlines the disability benefits process for you or your loved one with a disability that significantly impairs your ability to work.
