Supplemental Security Income (SSI) is a lifeline for millions of Americans, providing financial assistance to those with limited income and resources. Although many associate Social Security benefits with retirees, the SSI program serves a broader group of individuals, including people with disabilities, seniors aged 65 and older, and individuals who are blind. In 2024, SSI payments can provide up to $11,676 per year for eligible individuals, with the amount potentially increasing for married couples.
Who qualifies for SSI benefits?
The SSI program, administered by the Social Security Administration (SSA), aims to support individuals who have little to no income and face physical or financial barriers that prevent them from maintaining full-time employment. As of 2024, SSI is available to three main groups:
People with Disabilities: The SSI program offers financial support to those with significant physical or mental impairments that prevent them from working. Disabilities must be severe enough to meet the SSA’s strict definition, which requires the impairment to last for at least 12 months or be expected to result in death.
Seniors Aged 65 or Older: Senior citizens who are at least 65 years old and have limited income and resources can also qualify for SSI. These individuals may receive financial assistance even if they do not have a documented disability, making SSI an important option for seniors in need.
Individuals Who Are Blind: SSI also covers individuals who are legally blind. This includes people with central visual acuity of 20/200 or less in the better eye with the use of a correcting lens or individuals who have limited visual fields.
Income requirements for SSI
To qualify for SSI, applicants must demonstrate that they have a low income and limited financial resources. The exact thresholds for income and resources can vary, but generally, an individual cannot have more than $2,000 in countable resources, and a couple cannot exceed $3,000.
Countable resources include:
- Cash
- Bank accounts
- Stocks and bonds
- Real estate (excluding the home you live in)
However, some resources, such as your primary residence and one vehicle, are not considered when determining eligibility.
Maximum SSI payments
The monthly SSI payment for an eligible individual in 2024 can be as high as $973, which totals $11,676 annually. This amount, however, is subject to certain adjustments depending on the individual’s specific financial situation. For example, any income you receive may reduce your SSI benefit amount, but the SSA has rules in place to ensure that you always retain some financial assistance.
For eligible married couples, the maximum monthly SSI payment increases to $1,415, which equals $16,980 per year. This higher benefit reflects the fact that two people living together have shared expenses.
How and when are SSI payments made?
SSI payments are typically distributed on the first of each month. However, if the first falls on a weekend or a holiday, the payment is moved to the previous business day. This ensures recipients receive their benefits without delays.
For those who are new to the program, the approval process can take up to 30 days. Once approved, payments are issued monthly. Additionally, SSI payments are delivered through the Direct Express card or direct deposit to a bank account, providing convenient access to funds.
SSI eligibility requirements
Here is a detailed list of SSI eligibility criteria in 2024:
- Applicants must have a low income and limited resources.
- They must fall into one of the three eligible groups:
- Â individuals with disabilities,
- Â seniors aged 65 or older, orÂ
- people who are blind.
Aside from this, the following are also required;
- U.S. citizenship or legal residency is required.
- Some noncitizens may qualify under certain Department of Homeland Security (DHS) classifications.
- Applicants must be a resident of one of the 50 States, the District of Columbia, or the Northern Mariana Islands;
- Applicants must not be absent from the 50 States, the District of Columbia, or the Northern Mariana Islands for a full calendar month or 30 consecutive days or more;
- Applicants must not confined to an institution (such as a hospital or prison) at the government’s expense;
