A Guide to Social Security Benefits: The Difference Between SSI & SSDI

Social Security benefits are designed to help those who can no longer earn a living wage. There are programs for individuals in different circumstances; however, it is possible to qualify for more than one if you meet certain eligibility requirements. Below, the legal team at Bronnberg & Henriquez PC explains the differences between Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI).

What Is SSI?

SSI is a need-based program that does not require individuals to pay into the Social Security system to qualify for benefits. Instead, eligibility is based solely on income and total assets. Typically, applicants can receive it if they have less than $2,000 in assets and a very small income. Those who meet these financial requirements and are disabled are also eligible for Medicaid. The total amount given also depends on the cost of living where you reside.

What Is SSDI?

The disability insurance is a federal benefits program that is funded with payroll taxes. To receive it, you must have a qualifying disability and accrued a certain amount of work credits. Individuals obtain these by paying into the program and can accumulate up to four credits per year. In 2018, workers get one credit for every $1,320 in income. Typically, you need 40 to be eligible for SSDI with 20 having been earned in the last decade, but there are exceptions for younger applicants. The benefits are a portion of the income you received before developing a disability.

When it comes to Social Security benefits, some individuals can receive both SSI and SSDI, which is called concurrent benefits. You may be entitled to both if you have been approved for SSDI but receive a fairly low monthly payment through the program. This can happen when applicants have a short work history, became disabled at a young age, or received low wages while employed.

If you want to apply for Social Security benefits, turn to the compassionate and knowledgeable team at Bronnberg & Henriquez PC. The firm focuses on Social Security disability law, and since they have an office in Bayside and another in Garden City, NY, they make it easy to get quality legal counsel at your convenience. Visit their website to learn more about the services they provide clients throughout Queens, the Bronx, and Nassau County, or call (718) 714-8542 to schedule a consultation. 

via: nearsay

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