As you are aware, the government has numerous initiatives in place to help people who are at risk of falling into poverty. The SSI, or Supplemental Security Income, is one of the most well-known programs, benefiting over seven million Americans each month.
The Social Security Administration (SSA), the government agency in charge of the program, has launched several projects that further strengthen the goal of reducing poverty by addressing other factors that may be related to:
- Old age: You would not have the same options to generate the needed income level in your senior years and thus would require a monthly pension.
- Disability: If you have an accident or condition that develops and impedes you from working and earning the same amount of money that you did before.
- Death: If you pass away and leave your spouse, children, or dependent parents without the financial support that your work provided.
However, there is always the question of whether one can benefit from multiple programs. Many people believe it is impossible, but it is actually possible if you understand how they work. Of course, this does not imply that you can benefit from them all at once, or that any combination of programs would be appealing.
In this case, there is a unique opportunity for the Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI) programs. Continue reading to find out if you or someone you know can take advantage of this opportunity.
What is the purpose of the SSI and SSDI?
As previously stated, each program will address various reasons for poverty. For example,
Supplemental Security Income
will deal with Americans with limited resources and possessions. SSDI, on the other hand, is for people who were living a normal life before being certified disabled or blind, and thus are unable to work in the same area or at the same productivity level.
Both programs provide Social Security checks. However, the amount for SSDI will be greater than what is currently received through SSI. According to the SSA’s November data, the average SSDI beneficiary receives $1,404.51, up from $698.35.
What are the eligibility requirements for the SSI and SSDI?
The SSI has the following requirements to be eligible:
- Demographic: You need to be at least 65 years old or declared disabled or blind.
- Income: Generally, your income should not be more than $1,971 each month. However, this amount changes if you apply for this benefit as a couple ($2,915) or if the benefit is requested for a child.
- Assets: You should not have resources valued at more than $2,000 for individuals or $3,000 for couples.
For the SSDI you will need to:
- Medical certification: Obtain a medical certification that defines you as disabled or blind and implies that you cannot work for a year or more due to that disability.
- Social Security Credits: You need to have been contributing to the SSA through the payment of Social Security Taxes to get Social Security Credits. The amount of credits will depend on your age when the disability happened.
How can you benefit from the Supplemental Security Income and SSDI at the same time?
The SSA refers to rare scenarios in which a person qualifies for two programs at the same time as “concurrent.” The main requirement for applying for SSI and SSDI is that you are disabled, which allows you to apply for both programs.
However, the income, asset, and Social Security credit criteria remain unchanged. If you check all of the boxes, you will be able to access both programs. Understanding that the SSI is not a fixed amount is critical. Instead, it is a variable sum determined by your income and assets.
As a result, SSDI benefits will indicate a smaller Social Security check than SSI, whereas income-generating activities may affect your SSDI or SSI payments, depending on the amount earned.
