If you have a long-term disability, you may be receiving disability benefits from the Social Security Administration, or you may be considering whether or not to apply. Without question, these benefits can be tremendously helpful in relieving financial stress when you’re unable to work.
The amount of disability benefits you may receive from the Social Security Administration will depend on a variety of factors, including the type of benefit you receive, and may vary from year to year.
What Types of Disability Benefits Are Offered by the Social Security Administration?
The Social Security Administration offers two types of benefits to disabled individuals. These include:
- Social Security Disability Insurance (SSDI) Benefits: SSDI benefits are benefits that the Social Security Administration pays to individuals with a qualifying medical disability that has rendered them disabled for one continuous calendar year or more. In addition, the individual must be “insured,” meaning that they have worked a qualifying job for a sufficient length of time and regularly paid a portion of their salary into the Social Security system.
- Supplemental Security Income (SSI) Benefits: As with SSDI benefits, an individual must have a qualifying medical disability that has rendered them disabled for one continuous calendar year or more to be approved for SSI benefits. Unlike SSDI benefits, an individual does not need to be “insured” to be approved for SSI benefits. Instead, he or she must have income and resources below a certain limit established by the Social Security Administration. That limit may change from year to year.
Regardless of which type of benefit you receive, the amount will not depend upon the particular disability an individual has. For those who receive SSDI, it will depend upon various factors, including work and earning history. For SSI benefits, however, other factors come into play. Let’s take a closer look together at how SSI limits are determined and when payments might be received.
How Are SSI Limits Determined?
The Social Security Administration will set a “maximum” SSI benefit amount that may be paid each year. Typically, the maximum SSI benefit amount will increase in keeping with federal cost-of-living adjustments. In light of the 2024 cost-of-living adjustments, the maximum SSI benefit amounts are $943 per month for an eligible individual and $1,415 per month for an eligible couple.
Various factors will influence the amount of SSI that a particular person receives. These include income you earn (if any), other assets you may have, your living situation, income earned by family members, and other factors, depending on the circumstances involved. As a general rule, any income that is earned will count against the SSI payment that is made – although consulting an attorney regarding your particular circumstances is always advised.
Are Any Supplemental Payments Available?
This is another commonly asked question. Fortunately, in many states, the answer is yes. Many states do add a supplemental amount to the federal SSI payments that an individual receives. That supplemental monthly benefit amount will vary depending on what state it is. Those interested in obtaining more information can review the list of states offering such payments and should consult a knowledgeable and experienced attorney who can provide state-specific advice.
When Will I Receive My SSI Payment?
Regardless of the particular amount you receive, typically, SSI payments are made on the first day of the month. If the first day of the month falls on a weekend or federal holiday, payment will usually be made on the last business day of the prior month. In some cases, this may mean that an individual receives two SSI payments in the same month. That is normal, however, and is intended to ensure that beneficiaries never have to wait beyond the first of the month to receive the necessary payments.
Indeed, the law can often seem complex and confusing, and your particular circumstances will influence the amount of the disability payment you might receive each month. For that reason and many others, it is essential to consult an attorney who knows and understands the law and can provide the advice and guidance you need. At Liner Legal, we’re here for you.
Liner Legal – Here For You
At Liner Legal, we know how important disability benefits can be for our clients. We know that being unable to work can be stressful in many ways, including financially. Disability benefits can play an essential role in relieving that stress. That’s why we’re here to fight for you and to help you each step of the way as you pursue the benefits you need and deserve. We know and understand the law pertaining to disability benefits, and we’re ready to put that knowledge to work for you. If you’re ready to get started, give us a call today. We look forward to speaking with you soon.
