Thinking about getting Social Security benefits can feel overwhelming. These benefits are crucial for many people who depend on them to avoid falling into poverty.
Everyone’s situation is unique, and sometimes financial struggles aren’t visible to others. That’s why it’s important to understand the help available, such as Supplemental Security Income (SSI).
This article explains how Social Security and SSI work, including how to apply for them.
How Does Social Security Work?
Social Security mainly supports older individuals. Here’s a quick overview:
Monthly Payments
If you are 62 or older, Social Security provides you with a monthly payment to help with living expenses.
Eligibility
To qualify for Social Security, you must have worked and paid Social Security taxes for at least 10 years.
Administration
The Social Security Administration (SSA) manages this program and assists people with financial needs.
What is Supplemental Security Income (SSI)?
SSI is different from regular Social Security. Here’s what sets it apart:
No Tax Requirement
You don’t need to have paid Social Security taxes to qualify for SSI.
Helping the Vulnerable
SSI is designed to aid individuals at risk of poverty, regardless of their work history.
Eligibility
Even if you’re not a U.S. citizen, you might still be eligible for SSI.
How to Apply for SSI
To apply for SSI, you need to meet specific criteria:
Demographic
- Age: You must be 65 years old or older to qualify for SSI.
Income
- Earnings: Your monthly income should be $1,971 or less if you are single, or $2,915 or less if you are married.
Assets
- Savings and Property: If you are single, you can have up to $2,000 in assets. For couples, the limit is $3,000.
When Will You Get Your Social Security Payment?
The timing of your Social Security payment depends on when you began receiving benefits:
Before May 1997
Payments are made on the 3rd of the month.
After May 1997
Payments are made on the 1st of the month, unless it falls on a weekend or holiday. In that case, you’ll receive it on the business day before.
For example, if the next SSI payment is scheduled for July 1st and you haven’t received it by then, wait a few more days before contacting the SSA.
Getting Social Security benefits or SSI can be crucial for maintaining financial stability, especially during difficult times. By understanding how these programs work and how to apply,
you can better secure your financial future. SSI is there to help those in greatest need, so don’t hesitate to apply if you meet the criteria. Knowing when and how you’ll receive your payments can also help you plan better.
1. What’s the difference between Social Security and SSI?
Social Security supports older people who have worked and paid taxes for at least 10 years, while SSI helps people who are financially struggling, regardless of their work history.
2. Can non-citizens get SSI?
Yes, even non-U.S. citizens might qualify for SSI if they meet certain criteria.
3. How do I apply for SSI?
To apply for SSI, you need to be 65 or older, meet income and asset limits, and fill out an application with the SSA.
4. When will my Social Security payment arrive?
It depends on when you started receiving benefits. Payments are usually on the 1st of the month or the business day before if it’s a weekend or holiday.
5. What should I do if I don’t receive my SSI payment on time?
Wait a few extra days past the expected date before contacting the SSA if you haven’t received your payment.
