You have surely heard of SSI, but do you know what it is, how it's useful, and who qualifies for SSI benefits? This article will tell you all you need to know about this federal program that provides limited financial assistance to people who meet its criteria.
#1 What Is Supplemental Security Income And How It's Useful
Supplemental Security Income (SSI) is a federal program that provides financial assistance to people who are disabled, blind, or elderly and have little or no income. The SSI program was created in 1974 as an amendment to the Social Security Act.
#2 What Does Supplemental Security Income Mean?
The term 'supplemental' means additional, so SSI is a form of financial aid which is “added on” to existing resources such as social security benefits. However, this supplemental aid does not affect eligibility for social security or medical insurance schemes. In most cases, recipients of SSI will also be receiving other social benefits from one of these programs.
#3 Who Is Eligible For Supplemental Security Income?
In order to qualify for SSI, you must meet all the criteria for eligibility, which are:
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You must be a citizen of the US or a permanent resident.
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If you are blind, disabled, and/or over 65 years old, you will be considered disabled by SSA (Social Security Administration). If you are under 18 years old and meet one of the two previous criteria, your parent’s income at the time of application will be taken into account when making access to SSI eligibility.
The guarantee issued by the Social Security Administration is that applicants who meet all criteria will receive benefits within 3 months of submitting their claim. You can consult with an SSI law firm if you can't find the right information, and they should explain it all to you easily. And what about the monthly benefit? The maximum monthly benefit in 2015 is $733 for an adult with no dependents and $1,100 for an individual with any dependents who have limited income. It's important to note that the maximum benefit amount is reviewed and updated annually.
#4 How Can Supplemental Security Income Be Used?
Beneficiaries can use SSI in many ways, including:
Paying for food and shelter; Making a payment on your student loans; Paying health insurance premiums; Providing care for dependents (i.e., children).
It should be noted that the money received from SSI benefits cannot be used to make mortgage payments or other large purchases such as cars or furniture. Also, if you receive benefits from other federal programs such as Social Security Disability Insurance (SSDI) or Federal Employee Retirement System (FERS), your SSI benefits will be limited to $20 per month and $75 respectively.
#5 Supplemental Security Income Benefits Can Be Reinstated
If you were once on SSI benefits but removed from the program, you may be reinstated if your condition impairs your ability to work. You can also apply for reinstatement if three contiguous calendar months (90 days) have passed since you received some type of income. If you are an adult who qualifies for SSI under age 65 and becomes disabled again within 5 years of removal eligibility, benefits can be reinstated retroactively to the month in which you became disabled again.
#6 Supplemental Security Income Benefits And Work
SSI recipients who work may be eligible to keep some of their benefits even if they earn more than $733/month after the tax limit. However, any earnings above that sum will result in a loss of SSI benefits and will only be applied again when you cease work and reside under the $733/month earning threshold.
#7 Supplemental Security Income Benefits: The Effect Of A Second Job On Eligibility And Benefits
If you have a job or receive other sources of income such as pensions, this could disqualify you from receiving SSI benefits. If you make less than $75 per month during your earnings period (one month), SSA (Social Security Administration) assesses whether you can work. If your earnings are more than $75 per month, that amount is deducted from SSI benefits to be paid at a later date.
#8 What Is The Disability Determination Process, And Who Gets Supplemental Security Income?
On average, it takes up to three months for new claims to be processed by the Social Security Administration. Once they are approved, new beneficiaries will receive SSI benefits within three months of submission of their claims.
There are two ways of filing for disability: through an application with your State Vocational Rehabilitation Services (if you are under 65) or directly with SSA by sending them a claim, which must include supporting evidence from your doctor and a list of medical conditions that define your inability to work.
Supplemental Security Income (SSI) is a program offered by the US Government that gives financial benefits to those individuals who have limited income and resources. SSI was created as a safety net for seniors, disabled adults, blind or visually impaired people. This is a great program because it helps people try to live a normal life even through disability.
