SSI - The Retirement Income Coach

What is Supplemental Security Income (SSI)?

There is a lot of confusion about Supplemental Security Income, also known as SSI. Is it Social Security? Is it disability? Or something else entirely? While SSI is managed by the Social Security Administration, it is not actually a Social Security program. In other words, SSI benefits are not funded with Social Security taxes like other Social Security programs are. SSI is basically welfare. It is a need based program that pays benefits to people who have low income and who are 65 or older or who are blind or disabled.

The Difference between SSI and Disability

Many people think SSI and Social Security Disability benefits are the same. They are actually two very different programs. One is a need-based program that is only available to low income people, the other is based on your earnings history. The only similarity is that both provide benefits to people who are disabled. Supplemental Security Income (SSI) While SSI is managed by the Social Security Administration, it is not a Social Security program. SSI is funded by the US Treasury, not Social Security taxes. SSI is a program for low income people who are age 65 or older, or who are disabled or blind.

SSI Income Limits: How Much Can You Earn and Still Qualify for SSI?

SSI is supplemental income for low income people who are age 65 or older, OR who are disabled or blind. Children may also qualify for SSI if they have a disability and their parents meet the income test. The main thing to remember about SSI is that it is need based, so you need to have extremely limited financial resources to qualify. Both your income as well as the assets you own will be used to help determine if you are eligible for SSI. So what are the SSI income limits? The income limits depend partly on where you live, so you’ll need to contact Social Security to find out the limit for the state you live in.

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