2024-01-06 21:35:50
When talking about Social Security, the vast majority of people consider the monthly retirement benefits that are aimed at people over 62 years of age. They are not the only payments an American can receive. There is another one that allows some families to receive some money, regardless of their age and that does not require them to be retired. and that you could well receive in 2024 if you meet eligibility requirements.
Supplemental Security Income (SSI) is one of the United States federal assistance programs administered by the Social Security Administration (SSA). This initiative provides financial support to disabled, blind or elderly people with limited resources. For its purpose, Your earning capacity determines whether you are eligible or not.among other requirements.
The Social Security Amendments of 1972 created the SSI program, which began operating in 1974, with the goal of alleviating poverty among the most vulnerable members of society. These amendments were intended to consolidate and streamline various state-administered programs that provided assistance to people with limited incomes, particularly the elderly, blind, and disabled populations.
Before that year, there were assistance programs with various eligibility criteria. With the amendment, the requirements and amounts of benefits were standardized throughout the country. Also Coverage for blind and disabled people was expanded with specific income and personal resource criteria, so it is not necessary for them to be retired to receive it.
Both people over 65 years of age, as well as blind or disabled people, regardless of their age, They must earn less than $1,971 at their job each month in 2024according to the SSA. Total resources, which include your money in bank accounts and vehicles, must be no more than $2,000 for individuals and $3,000 for couples. If you are a parent applying for a child, the resource limit may increase by $2,000.
If you haven’t retired yet, you can apply for SSI provided you have a disability that affects your ability to work for at least one year, that could lead to death, or that severely limits your daily activities.
The SSA clarifies that if you have a disability, you must prove that you earned less than $1,550 at work per month in the month you apply. Citizens age 65 and older do not need to have a disability to receive SSI.
SSI applications can be made online, by phone, or in person. The process involves a detailed review of the applicant’s medical and financial information.
Due to the annual cost adjustment (COLA), monthly payments in 2024 will be:
$943 dollars per month for an eligible person (was $914 per month in 2023)
$1,415 dollars per month for an eligible person with an eligible spouse (was $1,372 per month in 2023)
$472 dollars per month for an essential person (was $458 per month in 2023)
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