Can You Collect Both SSI And Social Security?
The Social Security Disability Insurance (SSDI) is a separate and distinct benefit from Social Security. Whether you’re applying for SSDI or receiving SSDI, it’s important to understand how the two programs work together.
Can You Collect Both SSI And Social Security?
It is not possible to collect both SSA benefits at the same time. If you are receiving disability benefits at the time of retirement, your SSDI benefits will automatically convert to retirement benefits at the time of retirement.
What is Social Security Disability Insurance (or SSDI)?
In order to receive SSDI benefits, you must be between the ages of 19 and full retirement age (FRA) and have enough work credits to qualify for disability benefits.
Work credits are used by the Social Security Administration (SSA) to measure your work history. The SSA requires you to earn 40 credits to qualify for SSDI. Half of these credits must be earned within the last 10 years ending with the year you became disabled. The number of credits a worker can earn each year is limited to four. Younger employees may be able to earn fewer credits.
Also check: How To Increase Social Security Disability Payments?
What is Social Security retirement?
The average monthly payment for retired workers in October 2023 was $1,843.96. This program is for people 65 and older who have earned at least 40 work credits.
In 2023, people turning 62 will have a FRA of 67. You can also estimate your Social Security retirement income by using the SSA’s online calculator.
How does Social Security differ from Supplemental Security Income?
These two programs are independent and distinct. Here are some ways they differ:
- If you have worked long enough and paid Social Security taxes, you may be eligible to receive Social Security benefits. SSI benefits are based on need, not your work history.
- People receiving Social Security do not have income or resource limitations.
- The Social Security Administration receives funds from the Treasury, including income and corporate taxes. Employers and workers pay a dedicated payroll tax to fund Social Security.
- Qualifying for SSI payments may also make you eligible for other need-based programs SSI payments may make you eligible for other need-based programs as well. You may also qualify for Medicaid, a supplemental payment, and food assistance, depending on where you live.
Should I file for early retirement if I become disabled at 62?
The benefits you receive from early retirement are permanently reduced. Teague advises against it.
A person who is eligible for SSDI is essentially receiving full retirement benefits. It is always a good idea for people who are under FRA to apply for SSDI.”
Also check: Minimum Social Security Benefit
Does Social Security qualify me for SSI if I receive a certain amount?
Income and other resources are taken into account when determining SSI payments. In order to determine your SSI eligibility, the SSA adds up all your income, including Social Security benefits. Afterwards, it subtracts certain payments that aren’t considered income. The remaining income is called your “countable income,” which determines your SSI benefit amount.
SSI defines income as “anything an individual receives in cash or kind that can be used to meet his or her basic needs.”
Income includes:
- Earnings from a job or self-employment
- Retirement benefits, unemployment benefits, and family or friend cash assistance
- If you are married, a portion of your spouse’s income
- The value of free or discounted food and shelter
The SSA does not count and will deduct these payments from your gross income:
- The first $20 of monthly income received
- How much SNAP benefits you receive
- Refunds of income taxes
- Assistance with home energy costs
- Provision of food or shelter by nonprofit agencies based on your need
Additionally, there are income limits:
- If the income is derived only from wages, it’s $1,971 per month; if it’s from other sources, it’s $963 per month.
- Couples can earn up to $2,915 from wages and $1,435 from other sources of income.
Social Security is all I receive. Would you be able to give me an example of how much SSI benefits are?
In our example, we will take a look at what it would be like if you were an older adult receiving a monthly Social Security benefit of $600. The following is a sample calculation:
1. Calculate the countable income
The Social Security benefit is $600, with $20 deducted from it (not counted) —— the countable income is $580.
2. Determine the amount of SSI benefits
SSI federal benefit rate (2024) – $580 (countable income) – $363 (SSI federal benefit)
It is important to remember that this is just an example that illustrates how an SSI benefit might be calculated. In order to determine your countable income, the SSA will take into account a number of variables. In order to apply for benefits, you will be guided by a representative from the Social Security Administration.
SSDI applications can take several months to process. Can I get money now if I need it?
Teague recommends that you start the SSDI application and wait for the application to be reviewed. It is okay to apply for early retirement if money is needed during that time. When approved, SSA will reimburse the higher amounts under SSDI in a back payment.”
Is it possible to receive survivor benefits while collecting SSDI?
Teague says your spouse’s survivor benefits can be taken instead of SSDI if they are higher.
Do I qualify for Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI)?
There may be a possibility that you can qualify for both SSDI and SSI. SSI is a needs-based program that is available to elderly and disabled people who barely have enough income and resources to support their families. It is administered by the SSA but is not a Social Security benefit. SSI benefits are received by one out of every ten disabled SSDI beneficiaries.
Are older adults eligible for SSI?
As an individual or couple, you cannot have more than $2,000 in countable resources (things you own) to receive SSI benefits.
A person receiving SSI must also be a U.S. citizen, U.S. national, or a noncitizen meeting certain criteria, and be a resident of one of the 50 states, the District of Columbia, or the Northern Mariana Islands.
What is the best way to determine if I qualify for SSI?
A good starting point is the SSA’s SSI tool. It is free and takes only five to ten minutes. The tool documents your intent to apply for SSI and establishes a protective filing date. You will begin receiving payments if your application is approved after this protective filing date.
As SSI benefits can only be paid from the date of your application onward, the SSA recommends that you apply as soon as possible.
The SSI tool is not an application for benefits. To receive a formal determination of eligibility, you must file an application with the Social Security Administration. Once you submit your information, the SSA schedules an appointment with you.
