What Is Supplemental Security Income
Supplemental Security Income is a federal program that pays monthly benefits to low-income aged, blind and disabled individuals. The Social Security Administration runs the program, which is financed from general tax revenues, not from Social Security taxes. The SSI test of disability for adult applicants is the same as the test in the Social Security disability insurance program. Only people who have low incomes and limited financial assets are eligible for SSI. The federal SSI payment in 2017 for an individual with no other countable income is $735 a month. Payments are reduced as other income rises, and some states supplement the federal payment. Each month on average in 2016, 8.3 million low-income adults received SSI. These beneficiaries included 4.8 million adults under age 65 who were eligible based on disability or blindness and 2.2 million adults aged 65 and older. In addition, 1.3 million children under age 18 receive SSI based on disability or blindness.
Identify Ssds Spousal Benefits
Benefits.gov: Your Path to Government Benefits identifies the criteria you must meet to qualify for SSDs spousal insurance benefits. Spousal benefits are designed to meet the needs of a workers spouse if the worker receives SSD benefits. You qualify if:
- You were married for at least one year
- You are at least 62 years old
- Your SSD benefits are not more highly valued than your spouses
Our SSD attorney will help you prove you qualify for spousal benefits, prepare your application, and explain the benefits of tapping into your spouses benefits while waiting to request your own.
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How Much Social Security Will I Get
SSA calculates your benefit based on the monthly average of up to 35 of your highest earning years rather than, say, your last five years. The earnings are indexed to the change in overall wage levels and the rise in the nation’s standard of living while you were employed. Your future benefits thus will reflect that rise.
A Social Security calculator can help you figure out your benefits.
When checking whether your earnings record is correct or not, keep in mind theres no statute of limitations on correcting errors related to wages, according to Kurt Czarnowski, a principal at Czarnowski Consulting.
A person needs to provide proof of what the correct amount of earnings was, Czarnowski said at a recent National Association of Personal Financial Advisors conference. But even if it’s something back in 1976, if happen to have W-2, can make that correction.
Also, be aware that someone who chooses to draw benefits at the earliest possible age 62 would see their payment reduced by as much as 30%. By contrast, workers who delay retirement past their full-retirement age 66 or 67 for most people would see an 8% increase in benefits for each year they wait until 70.
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Why Are My Social Security Benefits Set To Increase
When the cost of living rises, as measured by the Department of Labors Consumer Price Index , federal benefit rates rise as well. When inflation rises, the CPI-W rises, resulting in a greater cost of living. Because prices for products and services are, on average, increased as a result of this change, the cost-of-living adjustment helps balance these costs.
Our Ssdi Lawyers Charge No Upfront Fees
We know that if youre looking to increase your SSDI benefits, you probably dont have lots of spare cash lying around to pay upfront for exorbitant legal fees. Dont worry. Our lawyers will never charge you anything upfront. Our primary goal is to get you the most out of your benefits. If we cant do this for you, you owe us absolutely nothing in return.
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Finding A Social Security Lawyer
Life changes are completely unpredictable and can spring up at any moment. In terms of disabilities, getting a diagnosis or injury that changes how you can operate and live your life is one of the many events that can change your life in an instant. Social security disability claims and payments are offered by the Social Security Administration to help those affected by these events to regain their financial stability after losing a portion of their income due to their disability.
Recalculation Of Disability Benefits
Another way to receive a PIA increase is through arecalculation of disability benefits to credit previous earnings that were not credited. Recalculations are required whenever earnings that were within the original base years are detected but were not used in the initial computation. When your disability benefits start, Social Security uses the earnings information that they have available for the previous year. However, the money you earned later during the year your disability began is reviewed to see if your earnings increase or decrease your PIA. This recalculation is known as an AERO recalculation. Below are some examples of earnings that may have been missed in the initial calculation:
- State and local retroactive coverage
- Partnership income in the year of death
- WWII Japanese internment deemed wage credits
- MS wage credits
- Earnings added to the record
If you are eligible for an increase after a recalculation is completed, you typically will be notified by mail. Your increase will be retroactive to the January after the income that is the subject of the recalculation was earned.
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In Rare Cases Theres A Third Way To Increase Social Security Disability Payments
While the two methods above are the only tried-and-true ways to increase monthly disability payments, there is one small exception. If you receive workers compensation benefits after becoming disabled on the job, it can also affect your monthly disability payments. According to the SSA, your combined workers comp and Social Security disability benefits cannot exceed 80% of your pre-disability earnings. Otherwise, the specific amount you get in monthly disability benefits is based on your previous earnings and cannot be adjusted.
Annual Cost Of Living Adjustment Or Cola Increase
A COLA is the most viable way to increase your monthly disability payments. It applies to all SSDI beneficiaries without exclusion. If the Consumer Price Index for Urban Wage Earners and Clerical Workers goes up, an equivocal COLA increase takes effect in December of that year. The Consumer Price Index falls under the U.S. Bureau of Labor Statistics. Each month, they compile data noting any changes in prices paid by urban consumers for representative goods and services.
Any CPI increase is reflected as a COLA increase in monthly Social Security disability payments by the same percentage, starting the following January. Heres an example to help you visualize how this works: In 2020, the CPI rose by 1.6%. In December 2020, monthly Social Security disability payments also saw a 1.6% increase. The 1.3% COLA increase for 2021 raised the max payment to $3,148/month. In October 2021, Congress approved a near-record 5.9% COLA, the largest in 40 years. The max SSDI payment for 2022 is $3,345, with an average benefit amount of $1,358 nationwide.
Even though a COLA increase affects your SSDI benefits, it has no effect on the SSI resource limits. To qualify for Supplemental Security Income , an applicant cannot have access to more than $2,000 in financial resources. And if both partners in a couple get SSI benefits, the households combined resources cannot exceed $3,000.
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When You’ll Get Your Ssdi December Payment
Here’s when your payment will arrive, based on your date of birth:
SSDI payment for those with birthdays falling between the 1st and 10th of any given month.
Social Security payment for those with birthdays falling between the 11th and 20th of any given month.
Social Security payment for those with birthdays falling between the 21st and 31st of any given month.
For more details, here’s how to see your Social Security COLA benefits increase online. Also, here are the prices for Medicare premiums and deductibles in 2023.
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Social Security Child’s Insurance Payment Schedule
If your child is eligible and can start receiving benefits, the payment schedule will follow yours. Note that you’ll receive the payments separately but on the same day to help differentiate the benefits.
- If you started receiving Social Security benefits before May 1997, or if you receive both Social Security and SSI, their Social Security payment will arrive on the third day of each month.
- If your birthday falls between the 1st and 10th of the month, their payment will be sent out on the second Wednesday of the month.
- If your birthday falls between the 11th and 20th of the month, their payment will be sent out on the third Wednesday of the month.
- If your birthday falls between the 21st and 31st of the month, their payment will be sent out on the fourth Wednesday of the month.
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What Is A Social Security Card
Your Social Security card is an important piece of identification. You’ll need one to get a job, collect Social Security, or receive other government benefits.
When you apply for a Social Security number , the Social Security Administration will assign you a nine-digit number. This is the same number that is printed on the Social Security card that SSA will issue you. If you change your name, you will need to get a corrected card.
Next Step: Contact Abaltimore Social Security Disability Lawyer Today For A Case Evaluation
If you are receiving Social Security disability benefits and have questions about whether you can increase your benefits, contact a Baltimore Social Security Disability lawyer today. You can call the Law Office of Emmett B. Irwin at 443-839-0818 or complete our online form. We can answer the questions you have about your disability benefits and whether you may receive an increase. We work with clients throughout Maryland and surrounding states.
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How Will The Social Security Increase Help People
The impact could be enormous, experts say. The average retired person will see a monthly increase of around $144 in payments, according to the SSA, and the average monthly payment to a retired beneficiary will be $1,827.
The more than 70 million Americans who receive Social Security payments, Supplemental Security Income payments or both will start to see that increase beginning in either December or January.
According to the SSA, 55 percent of Social Security recipients in 2021 were women. And though the vast majority of those Americans are retired, around 3 million children also receive Social Security payments. Others who get payments include people with disabilities and people who have lost spouses.
Of the 70 million Americans who receive Social Security benefits, more than three-quarters are 65 or older. Graphic by Jenna Cohen and Megan McGrew.
The estimated average payment for a widow with two children will jump from $3,238 to $3,520, according to the SSA, and the average payment for disabled workers will increase from $1,364 to $1,483.
Another important change will be the decrease in Medicare Part B premiums, said Mary Johnson, Social Security and Medicare policy analyst at the Senior Citizens League.
We have not seen that combination ever, and this may be the one and only time we ever see it, Johnson said. So Im encouraging everybody to appreciate it.
The Ssdi Payment Schedule For Everyone Else Depends On Their Birthday
Payments for those who haven’t been receiving SSDI money since 1997 or before follow the same schedule as Social Security. Here’s how it works:
- If your birthday falls between the 1st and 10th of the month, your payment will be sent out on the second Wednesday of the month.
- If your birthday falls between the 11th and 20th of the month, your payment will be sent out on the third Wednesday of the month.
- If your birthday falls between the 21st and 31st of the month, your payment will be sent out on the fourth Wednesday of the month.
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How Common Is It For Beneficiaries To Return To Work
Both Disability Insurance and Supplemental Security provide incentives for beneficiaries to work. Disability Insurance beneficiaries are encouraged to work up to their full capacity and can earn an unlimited amount for up to 12 months without losing any benefits. Beneficiaries who work for more than 12 months and have earnings above the substantial gainful activity level cease to receive a monthly benefit. If at any point in the next five years their condition worsens and they are not able to continue working above the substantial gainful activity level, however, they are eligible for expedited reinstatement of their benefits. This means they do not need to repeat the entire, and typically lengthy, disability-determination process that they initially went through to qualify for benefits.
Supplemental Security beneficiaries who are able to work are encouraged to do so as well. Their benefits are reduced based on their earningsafter the first $85 of earnings each month, which is not counted against the benefitbut by only $1 for every $2 of earnings. Beneficiaries who are able to do some work will therefore always be better off with both earnings and a reduced benefit than just the benefit alone.
Who’s Eligible For Social Security Spousal Benefits
You’re eligible for Social Security spousal benefits if you’re at least 62, or if, at any age, you’re the primary caregiver of a child who’s disabled or 16 or younger. In addition, you must meet another condition:
- You’re currently married to someone who’s already receiving Social Security benefits, OR
- You were once married for at least ten years to someone who is at least 62 and is eligible to receive Social Security benefits, and you didn’t remarry until you were at least 60.
Notice that in the case of ex-spouses, your ex doesn’t have to have filed for their benefits for you to receive your spousal benefits.
adamkaz / Getty Images
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Iv: What Financing Issues Does Ssdi Face
SSDI costs have leveled off, but the program faces a long-run funding gap. SSDI costs have stabilized as the baby boomers move from their peak disability-prone years to their peak retirement years. But SSDIs costs will still exceed its revenues. Over the next 75 years, its shortfall is projected to be about 6 percent of the programs costs or income.
SSDI has financial challenges but doesnt face bankruptcy. The payroll taxes that workers contribute out of every paycheck fund most of SSDIs costs. In addition, SSDI has built up trust fund reserves, which Social Securitys trustees estimate will last until 2065. At that point, tax revenues will be enough to pay for 92 percent of benefits even if policymakers do nothing to strengthen Social Securitys financing .
Though the SSDI trust fund has enough funding for more than three decades, policymakers must address overall Social Security financing before then.Overall, Social Security can pay full benefits for 16 more years, the trustees annual report shows, but then faces a significant, though manageable, funding shortfall. Policymakers should address Social Securitys long-term shortfall primarily by increasing Social Securitys tax revenues. Social Security will necessarily require an increasing share of our nations resources as the population ages, and polls show a widespread willingness to pay more to strengthen the program.
The 10 Best Ways To Increase Your Social Security Payments
Susie, Facty Staff
Social Security is a complex system. It may provide economic security for those who need it, but the factors and numbers that affect your payout are often intricate and difficult to understand. Living on a limited income can be challenging. By getting the most out of Social Security, you are planning ahead for a more secure financial future. Here are the best ways to increase your Social Security payments.
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What If You Receive A Denial
Generally, the SSA denies disability benefits because applicants do not provide the evidence needed to prove their medical condition. If you were initially denied benefits, it is important not to delay. You have 60 days to appeal your denial. Before you file your request, you might want to consider contacting our law firm.
We can explain the appeals process to you. We can help you meet your appeal deadlines and represent you at a hearing with an Administrative Law Judge .
If the ALJ approves you for benefits during this process, you will begin receiving your benefits shortly after the approval. You could also qualify for back benefits that pay you for the time you had to wait to begin receiving your monthly award. We can determine how far back these benefits might go.
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Qualifying For Ssi While Receiving Ssdi
Depending upon your financial circumstances, you may qualify to receive benefits from Supplemental Security Income and SSDI at the same time. There are, however, income and financial resource limitations you must meet to qualify for SSI. For instance, a person applying for SSI cannot have more than $2,000 in cash or other assets. There are, however, exceptions for a vehicle used for personal transportation and the value of the home a person owns and uses as a primary residence.
If you qualify for concurrent benefits through SSI and SSDI, you may see a slight increase in the total monthly Social Security disability payments. The reason why it is only a slight increase is that the maximum amount you would be entitled to receive through SSI is reduced by a portion of the SSDI payment.
SSI considers your income when determining eligibility and the amount of your benefits. SSDI payments count as unearned income, but there is a $20 a month exclusion allowed by SSI. As a result, if you receive $250 a month from SSDI, $230 of it would count against and reduce the SSI benefit you would otherwise be entitled to receive.
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