What Are Income and Asset Limits for Supplemental Security Income?
03/21/2013 // San Antonio, Texas, US // Wright Disability Firm // Wright & Wright, America’s Social Security Disability Firm™ // (press release)
For those applying for Supplemental Security Income (SSI), there are different eligibility requirements from those used to determine eligibility for Social Security Disability benefits that must be taken into consideration. With SSDI, approval for benefits is based primarily on disability and what one has paid in FICA taxes for a required period of time. With SSI; however, household income is a key factor.
There are strict income limits for those eligible for SSI. It is based on what is referred to as the federal benefit rate (FBR), which represents the income limit for Supplemental Security Income and the allowable monthly payment. The rate is different for individuals and couples who apply for this type of assistance. For 2013, the amount was $710 for individuals and $1,066 for couples.
Countable monthly income cannot be in excess of the FBR for those eligible to receive Supplemental Security Income, but the Social Security Administration in making an eligibility determination only counts a portion of one’s income. A majority of states add to the federal payment for SSI or provide what is referred to as a state supplement, which means the allowable income level is higher in the states that do.
A Social Security Disability advocate or attorney can help individuals seeking to apply for these benefits understand their eligibility and assess whether their income or assets exceed required limits in accordance with state and federal guidelines.
Wright & Wright is available to help those who need assistance filing for Social Security benefits. The firm’s advocates are highly experienced in helping applicants obtain a successful outcom for their cases. Individuals may contact Wright & Wright, America’s Social Security Disability Firm™ today to request a free case evaluation.
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