Sozialversicherungs-Invalidenversicherung (SSDI)/Supplemental Security Income (SSI) (2024)

FAQs

Who does Supplemental Security Income SSI provide extra income for? ›

The Supplemental Security Income (SSI) program provides monthly payments to adults and children with a disability or blindness who have income and resources below specific financial limits. SSI payments are also made to people age 65 and older without disabilities who meet the financial qualifications.

The major difference is that SSI determination is based on age/disability and limited income and resources, whereas SSDI determination is based on disability and work credits. In addition, in most states, an SSI recipient will automatically qualify for health care coverage through Medicaid.

When asking the question, “Is supplemental security income taxable?” the answer is: no, supplemental security income (SSI) payments aren't taxable. They're also not considered earned income for Earned Income Credit (EIC) purposes.

To get SSI, you must meet 1 of the following criteria: • You are age 65 or older. You are totally or partially blind. You have a medical condition that keeps you from working and is expected to last at least 1 year or result in death. Social Security runs the SSI program.

For example, if someone pays an individual's medical bills, or offers free medical care, or if the individual receives money from a social services agency that is a repayment of an amount he/she previously spent, that value is not considered income to the individual.

SSI is a needs-based program for people with limited income and resources. Resources are assets or things that you own. The program is paid for by general tax revenues -- not from the Social Security trust funds.

Example of concurrent benefits with Employment Supports. Many individuals are eligible for benefits under both the Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) programs at the same time. We use the term “concurrent” when individuals are eligible for benefits under both programs.

To acquire the full amount, you need to maximize your working life and begin collecting your check until age 70. Another way to maximize your check is by asking for a raise every two or three years. Moving companies throughout your career is another way to prove your worth, and generate more money.

Answer: If a person is approved for both SSI and SSDI they will maintain Medicaid because SSI benefits include Medicaid. However, some states require a separate Medicaid application, (https://www.ssa.gov/disabilityresearch/wi/medicaid.htm).

Unearned Income is all income that is not earned such as Social Security benefits, pensions, State disability payments, unemployment benefits, interest income, dividends and cash from friends and relatives.

Do you have to file taxes on Supplemental Security Income? ›

You have to report this amount on your tax return, as a portion of this may be calculated as taxable on the Taxable Social Security Benefits Worksheet. Supplemental security income (SSI) payments are NOT taxable, and thus do not need to be reported on your tax return.

Wages, bonuses, commissions, and vacation pay count against your Social Security benefits, while investment income, dividends, and interest (among others) are excluded.

Some American workers do not qualify for Social Security retirement benefits. Workers who don't accrue the requisite 40 credits (roughly ten years of employment) are not eligible for Social Security. Some government and railroad employees are not eligible for Social Security.

How to calculate SSI benefits. Your monthly SSI benefit = the maximum SSI federal benefit rate ($914 in 2023) – your countable income. There are a few income exclusions. The SSA specifically doesn't count the first $20 of most income.

The SSDI program does not limit how much money you can have in the bank because there are no resource limits as you find with SSI.

Supplemental Security Income (SSI) is a program that pays benefits to disabled adults and children who have limited income and resources. Also, SSI benefits are payable to people 65 and over without disabilities.

Generally, the maximum Federal SSI benefit amount changes yearly. SSI benefits increased in 2023 because there was an increase in the Consumer Price Index from the third quarter of 2021 to the third quarter of 2022. Effective January 1, 2023 the Federal benefit rate is $914 for an individual and $1,371 for a couple.