Supplemental Security Income (SSI) is a government benefit program that provides monthly payments to older, blind, and disabled individuals who are facing significant financial challenges.
According to AARP, to qualify for SSI, you must be disabled, blind, or at least 65 years old and have very limited financial resources. The maximum monthly benefit available from federal funds in 2023 is $914 for an individual and $1,371 for a couple who are both eligible for the program. However, Social Security subtracts what it considers “countable income” from the benefit, so if your countable income exceeds these figures, you cannot receive SSI.
Determining eligibility for SSI can be complex, as Social Security has a formula for what income factors into eligibility. For example, money earned from work counts, but not all of it. Regular Social Security benefits and pensions are countable, while some government aid, such as food stamps and home energy assistance, is not. Another eligibility test is financial assets, which cannot exceed $2,000 in value for an individual and $3,000 for a couple.
It is important to note that SSI benefits are closely tied to a recipient’s living situation and personal or family finances. Recipients must keep Social Security informed of any changes in their circumstances, from a new job or pay increase to a relative moving in and contributing to household expenses. Blind or disabled children may also qualify for SSI, depending on their condition and the family’s financial situation.
Overall, SSI is a crucial safety net for those in need, providing support to millions of vulnerable individuals and families across the United States.
For more information visit : https://www.aarp.org/retirement/social-security/questions-answers/what-is-ssi.html
To learn about Medicare: