SSI Essentials – What You Need To Know
What’s considered a “disability” for SSDI benefits applies equally to SSI benefits. You must have a physical or mental impairment that has lasted 12 months or more, or is expected to last, at least 12 months, that prevents you from working in any occupation.
You could be entitled to monthly SSI cash payments if you are disabled, unable to work, and have very little income and few resources. Specifically, your income must be very low and your total assets (not including your home and car) must not exceed a set amount. The amount of monthly benefits depends on your household income.
The federal government has rules on what it does or doesn’t consider “Income” relevant for SSI eligibility. The sources of income included in the assessment include money you earn from working, pensions, Social Security benefits, alimony, child support and food and shelter.
As your household income rises above a certain amount, the amount of SSI you are due begins to decrease dollar for dollar.
The assets used to assess whether you qualify for SSI include real estate other than the house you live in, bank accounts, cash, stocks and bonds. Social Security does not count the home you live in or the land it is on.
SSI is also available to children with serious medical conditions that the government considers disabilities. For purposes of determining a child’s monthly disability benefit, part of the income of the parent or parents is deemed to be the child’s income.