Applying for Disability with SSI or SSDI

Applying for disability with SSI or SSDI.

So you're thinking you'll need to apply for disability?

The Social Security Administration offered two types of disability benefits.

SSI, otherwise known as Supplemental Security Income

and SSDI Social Security Disability Insurance.

Both programs are designed for disabled individuals.

However, the eligibility requirements and the benefits of the two programs do differ.

Let's go through the differences together.

The most important difference between the two programs

is how the benefit eligibility is determined.

SSI is determined by need and it's income based.

Your income must be below a threshold in order to qualify.

Additionally, you are eligible for SSI benefits regardless

of whether or not you worked at paid into the Social Security system.

On the other hand, if you worked and paid into the Social security system,

SSDI, it's based on your work record.

Just like Social Security retirement benefits.

In order to qualify, you need to have worked for a minimum amount of time.

Depending on your age when you became disabled.

And your benefit amount can be slightly higher or lower depending on your income,

history, and work duration.

Aside from the differences,

each program has its own qualification and application process.

Let's review how you qualify for Supplemental Security

Income for both SSI and SSDI.

You need to establish you have a disability.

However, under SSI, the definition of disability is much broader than for SSDI.

Specifically, SSI is available to people

who are disabled, blind or over the age of 65.

SSDI does not cover non-disabled senior citizens.

Specifically, SSI is available to people

who are disabled, blind or over the age of 65.

SSDI does not cover non-disabled senior citizens.

This group will qualify for Social Security benefits based on the work

record, which means SSDI becomes a moot point.

Additionally, SSI is based on limited income sources with few assets.

If your assets meaning all the things you own, are worth more than $2,000

for an individual or $3,000 for a couple, you're considered to be ineligible.

This amount includes

most personal property, but excludes certain items such as your primary home.

The income requirements are also very strict.

In general, the income limit for SSI is a federal benefit rate FBR,

which is $771 per month for an individual

and $1,157 per month for a couple.

When determining your benefit eligibility, the first $65

in which income you earn each month is excluded.

Over that amount, every $2 you earn

will result in a $1 reduction in your monthly benefit.

There are also state supplements for income.

Most states, with the exception of Arizona, Arkansas, Mississippi,

Oregon, Tennessee, Texas, and West Virginia

do not participate in this additional supplemental income program.

Many of these states vary the amount of their supplements

based on living situations.

For example, nursing home residents may qualify

for higher supplements than others.

This increases the SSI income limits.

Determining your eligibility can be complicated.

Some income is excluded.

There may be state supplemental income, or you may or may not be married, etc..

It is therefore always better to contact the SSA, Social Security Administration

to determine your benefit eligibility for SSI.

You can call them at 800-772-1213,

or visit the Social Security field office nearest to you.

So how do you qualify for Social Security Disability Income?

Qualification for SSDI is primarily based on two things

documenting a disability and evaluation of your work history.

Keep in mind that to qualify a disability is defined as a medical condition

expected to last longer than one year and or result in death.

The steps involved in determining your benefits eligibility

are that the Social Security Administration

will look at how long you've worked, as well as your recent work history.

Benefits can vary drastically.

The Social Security Administration uses a weighted formula

to calculate disability benefits, but if you want an estimate,

look no further than your Social Security statement.

You can view your statement by creating an account online at ssa.gov.

And in addition to your eligibility and estimated disability benefit, you'll

find lots of other useful information about your Social Security status.

Social security.

One area that I find most people overlook when they are considering retiring

and taking Social Security.

It's not adequately reviewing their Social Security statements.

They're not looking at the options

for taking out their Social Security to maximize their benefits.

This is especially important to do if you're married.

If there is an error on your Social Security statement,

there is an appeal process.

Go to Social security.gov for questions.

Very few people participate in formal financial planning

prior to retirement, which can be a very costly mistake.

Financial advisors and planners can locate potential free income

that you may be overlooking, and can recommend the best time, place and

amount to take in order to make your money last throughout your lifetime.

One area that people seem to take for granted is Social Security Income.

If you find yourself a few years behind in your retirement savings,

there are Social Security secrets that could help you ensure a boost

your retirement income.

It is possible to perhaps increase your Social Security income

by $16,122 per year.

In summary, there are eligibility requirements

for both SSI and SSDI because it can be very complicated.

Seek out the guidance from your local Social Security office at ssa.gov.