What is Social Security Disability?
The Social Security Act provides two benefit programs for disabled persons: Social Security Disability (SSDI) & Supplemental Security Income (SSI).
Social Security Disability
Social Security Disability Insurance (SSDI) is a type of government benefit administered by the Social Security Administration. SSDI benefits are paid monthly to provide relief to people whose ability to work has been significantly impaired by a physical or mental impairment. Social Security Disability is available to individuals who have contributed to a Social Security account. These individuals earn “quarters of coverage” based on their contributions. In order to meet the required number of quarters, one usually must work five out of the last ten years. Additionally, there are some allowances for younger people who have not had the opportunity to work for that long.
Supplemental Security Income
Supplemental Security Income is a need-based program for individuals who are not covered by the SSD program. Since social security income is a need-based program, these benefits are determined based on individual income and assets. The standard in determining whether an individual is disabled for this program is the same as the SSD program.
Who is “Disabled?”
To be eligible for either of the above benefits, individuals must demonstrate that he or she is “totally disabled.” This means they must prove they have a physical or mental impairment (or a combination of impairments) severe enough to prevent them from performing substantial gainful activity (any regular paying job) for at least twelve (12) consecutive months.
The requirement is not whether an individual would be offered a job, but whether there are jobs available that he or she could perform. There are certain allowances for individuals of advanced age allowing for a more realistic look at age, education and experience in meeting this test.
Can you collect Social Security forever?
Social Security Disability can stay active for as long as you are disabled. If you receive benefits until age 65, your SSDI benefits will stop, and your retirement benefits will begin. In other words, your SSDI benefits change to Social Security retirement benefits.
What insurance do you get with Social Security Disability?
Everyone eligible for SSDI benefits is also eligible for Medicare after a 24-month qualifying period. The first 24 months of disability benefit entitlement is the waiting period for Medicare coverage.
How Much Is Social Security Disability?
The amount that you receive for supplemental security income changes each year. The information for supplemental security income in 2024 is below.
What are the maximum Supplemental Security Income (SSI) that I can receive in 2024?
The Maximum Federal Supplemental Security Income (SSI) payment amounts for 2024 have increased from previous years. The SSI payment amounts increase with the cost-of-living increases that apply to Social Security benefits. As a result, a 3.2% increase becomes effective in January of 2024.
SSI Amounts for 2024
The Social Security Administration states, “In general, monthly amounts for the next year are determined by increasing the unrounded annual amounts for the current year by the COLA effective for January of the next year. The new unrounded amounts are then each divided by 12 and the resulting amounts are rounded down to the next lower multiple of $1.” (SSA)
The new maximum monthly Federal amounts starting in January of 2024 are as follows:
– $472 for an essential person
– $943 for an eligible individual
– $1,415 for an eligible individual with an eligible spouse
||Unrounded annual amounts for—
||Monthly amounts for 2024
|a The unrounded amounts for 2024 equal the
unrounded amounts for 2023 increased by 3.2 percent.(SSA)
The monthly countable income is subtracted from the monthly amount for a payment reduction. If a payment reduction occurs for an eligible individual with an eligible spouse, the monthly amount is equally divided between both individuals. If you are interested interested in your states supplement SSI benefits, you can read about their laws here.