For veterans who have served our country, understanding the various forms of financial support available can be crucial. Some veterans may qualify for Social Security Disability Insurance (SSDI) benefits but not Supplemental Security Income (SSI). In this blog post, we’ll explain why this distinction exists and touch on the monthly income cutoff for SSI.
SSDI Benefits for Veterans
SSDI benefits are available to individuals who have worked and paid into the Social Security system but have become disabled and can no longer work. Veterans can qualify for SSDI if they meet the work history requirements.
- Work History Requirement: To be eligible for SSDI, veterans need to have earned a certain number of work credits by paying Social Security taxes during their employment. These work credits are essentially a way of measuring a person’s work history.
- Disability-Based: SSDI is primarily based on the individual’s work history and disability, regardless of their income or assets. It provides monthly payments to help support veterans who can no longer work due to a disability.
SSI Benefits and the Monthly Income Cutoff
SSI benefits, on the other hand, are intended to assist low-income individuals who are elderly, blind, or disabled. Veterans may not qualify for SSI due to its income and asset restrictions.
- Income Limit: SSI has a strict monthly income limit, and any income above this limit can disqualify an individual from receiving SSI benefits. The income limit can vary by state but is generally around $914 per month for an individual in 2023.
- Asset Limit: SSI also has a limit on the value of assets (such as savings, investments, and property) that an individual can own while receiving benefits. The asset limit is usually quite low, making it challenging for veterans with significant assets to qualify for SSI.
In summary, veterans can be awarded SSDI benefits based on their work history and disability, without regard to their income or assets. However, SSI benefits have strict income and asset limits, making it challenging for veterans with higher incomes or significant assets to qualify for this assistance. It’s essential for veterans to be aware of the differences between SSDI and SSI and to explore their eligibility based on their unique circumstances.
If you’re a veteran seeking financial assistance, it’s a good idea to contact the Social Security Administration or a veterans’ benefits counselor who can provide guidance tailored to your specific situation. Understanding these benefits can help veterans access the support they need to maintain financial stability.
For Social Security Disability representation, please contact Sage Disability at 800-316-2794, or www.sagedisability.com, for a free consultation with a disability specialist. If you meet the criteria, a disability specialist will be assigned to walk you through the entire process. With Sage Disability, an experienced SSD specialist will file your application correctly the first time and help you avoid denials, at no out-of-pocket costs to you. You don’t pay unless we win your case. Don’t take any chances when filing or appealing a disability claim. Get help from a disability firm with 50 years’ experience.
Author: Sandy Lutz, EDPNA