Finances can be complicated for many older people. Social Security benefits might not cover everything, which is problematic when you have limited savings. As of last year, over 17 million seniors were economically insecure. However, the government assists some low-income seniors through Supplemental Security Income (SSI). This post will cover Supplemental Security Income eligibility and how to apply.
Supplemental Security Income Eligibility: What You Need to Know
Age and Disability Requirements
The purpose of SSI is to provide income to disabled people who cannot engage in gainful employment and low-income seniors. To be eligible for assistance, you must be disabled, blind, or at least 65 years old.
Income Requirements
Supplemental Security Income is not for all seniors. Your income must be less than $1,971 a month to be eligible. It is important to note that the Social Security Administration (SSA) counts many income sources when assessing eligibility. It includes anything from the money you make at a part-time job to your Social Security benefits. The SSA may also include food or shelter you receive free or at a discount when assessing income. It is essential to report all income sources when applying. You can learn more about how the SSA counts income on this page.
Asset Limits
Beyond having income requirements, SSI eligibility also considers the value of a senior’s assets. For an individual to be eligible, they must have less than $2,000 in total assets. The limit increases to $3,000 for married couples. Countable assets for SSI eligibility include cash, bank accounts, real estate, vehicles, stocks, savings bonds, and insurance. It is important to note that your home does not count toward your total assets in SSI eligibility. Seniors must also understand they cannot make eligibility by giving assets away. Giving assets away or selling them for less than market value can make a senior ineligible for up to 36 months. You can click here to learn more about SSI and assets.
Citizenship and Residency
SSI is only available to US citizens and qualified non-citizens. Along with being a citizen or qualified non-citizen, you must also reside in the United States. Click here to learn more about SSI eligibility for qualified non-citizens.
Applying for SSI
If you believe you are eligible, you should apply for SSI immediately. It can provide a valuable financial lifeline for those who need it. The SSA offers multiple options for SSI applicants. You can start your application online and set an appointment. Applicants can also call 1-800-772-1213 to arrange an appointment online. They also have a phone number for people who are deaf or hard of hearing (1-800-325-0778).
Do you need elder law services in Florida? Click here to contact Scott Law Offices. We offer a range of services to help seniors navigate the complex legal issues that come with aging. Reach out now to learn more about how we can help.
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