What Is Supplemental Security Income (SSI)?

While the USA is one of the wealthiest places in the world, not everybody in the country is rich. As in other parts of the world, there are people whose financial situation is difficult. Luckily in America, all manner of welfare programs are available to assist. One of these programs is the Supplemental Security Income (SSI). We take a deep dive into this benefit scheme to ensure you know how it could be of assistance.

What Is Supplemental Security Income (SSI)?

Managed by the Social Security Administration, Supplemental Security Income provides payments every month to those with low income and resources. The government-funded program aims to help people pay for the basics in life, such as accommodation, food, and clothing.

Is SSI the same as social security benefits? They are two separate schemes, though anyone on social security can apply for SSI. Supplemental Security Income is a means-tested program entirely dependent on people’s earnings and assets. With no age limit, SSI assists those who have not paid enough into the tax system and cannot gain the full advantages of other welfare schemes.

Who Can Apply For SSI?

There is a strict qualification criterion in place for Supplemental Security Income eligibility. The applicant must meet one of the following:

• • Must be aged 65 or over,
• • Blind or disabled,
• • Is a US citizen or living in the country legally.

In addition to the above, a person must have limited income and resources (i.e., assets). Children with disabilities or blindness can access SSI benefits if their family has a low income and asset levels.

Income And Resource Consideration

The scheme is only open to those people below a certain income threshold. You can potentially qualify if your gross wages are less than $1,913 per month (or $2,827 for a couple). Those receiving a pension or help from other sources (such as friends and family) can apply if their income is below $934 a month ($1,391 for a couple). The assets and resources a person owns are also considered to determine eligibility. These are the following:

• • Money in your bank account,
• • Stocks, shares, and mutual funds,
• • Land a person owns,
• • Life insurance,
• • Vehicle ownership.

A few things to note: If the total value of resources is less than $2000 (or $3000 if a couple), they are not counted. Your home and household goods are not included. One vehicle that is used for transportation is not taken into account for calculation purposes.

How Much You’ll Receive

For 2023, SSI per month is $913 for a single person and $1371 for a couple. But the exact figure is based on a person’s income. The first $65 earned income (i.e., wages) and half of the person’s monthly earned income are not considered; the remaining is known as “countable income.” Furthermore, the first $20 of any other income is not taken into account. These amounts are subtracted from the eligible SSI payment. Here are 2 examples to illustrate how the calculations work:

Scenario A

A single person receives $400 from Social Security and no other income.

Their “countable income” is: $400 - $20 = $380

The Supplemental Security Income rate for a single person is $913.

Their SSI payment will be: $913 - $380 = $533

Scenario B

A couple has a monthly earned income of $500 and no other income.

Their “countable income” is: $500 - $65 = $435

The SSI rate for a couple is $1371.

Their Supplemental Security Income payment will be: $1371 - $435 = $936.

Other Benefits

Before applying, a person must claim Social Security and other benefits to which they are entitled. That is because those benefits are included in the income determination. Those who successfully apply for Supplemental Security Income will become eligible for Medicaid and Supplemental Nutrition Assistance Program (SNAP). Medicaid is a health benefit scheme for low-income people, while SNAP helps with food costs.

How to Apply?

To apply, a person must make an appointment online or by telephone. How to get an appointment by telephone? Call 1-800-772-1213 between 8 am and 7 pm. To book an appointment online, visit the Social Security website here. Have the following details at hand:

• • Name,
• • Date of birth
• • Social Security Number,
• • Your phone number,
• • Email (optional).

After supplying these details, an appointment will be made for you to apply for the SSI benefit. The appointment details are sent by post. In some instances, they may call to book an appointment. It is possible to get someone else to make the arrangements if necessary.

Documents Required For The Appointment

Social security will book an appointment to apply for SSI. For this stage, you may need the following documents:

• • Social Security number,
• • Proof of age,
• • Citizenship status,
• • Income records,
• • Record of resources and assets,
• • Living arrangements records,
• • Medical records (if disabled or blind),
• • Work record and history.

Supplemental Security Income Is Here To Help

SSI is aimed at low-income people with disabilities or over 65 who receive little help through other Social Security programs. Though an income-based system, it ensures as many Americans as possible have the means to enjoy a quality life.