– Can you work and still receive SSI benefits?
### IntroductionIf you’re considering applying for Supplemental Security Income (SSI), you might be wondering, “How much money can I make and still be eligible for SSI?” This essential question is rooted in understanding how the Social Security Administration (SSA) determines eligibility for SSI, which provides financial assistance to individuals with low income and limited resources who are aged, blind, or disabled. This article will guide you through the ins and outs of the income limits for SSI, helping you understand whether you may qualify for this crucial form of support.
What is SSI?
Supplemental Security Income (SSI) is a U.S. government program administered by the Social Security Administration (SSA). It provides monthly cash assistance to elderly, blind, or disabled individuals who have limited income and resources. SSI is designed to help cover basic needs such as food, clothing, and shelter.
Income Guidelines for SSI Eligibility
When determining eligibility for SSI, the SSA takes into account your income and resources. “Income” includes money earned from work; money received from other sources like unemployment, disability, or social security benefits; and free food or shelter. “Resources,” on the other hand, includes things like cash, bank accounts, stocks, and real estate.
The SSA allows you to earn a certain amount of income and possess a certain amount of resources, beyond which you would no longer qualify for SSI. As of 2021:
- The maximum monthly SSI payment for an individual is $794, and for a couple is $1,191.
- The limit of resources you can own is $2,000 for an individual and $3,000 for a couple.
Considering ‘Countable Income’ for SSI
When calculating your income for SSI purposes, the SSA excludes certain types of income, which means only your ‘countable income’ is considered. Some of the income that may be excluded includes:
- The first $20 of most income received in a month.
- The first $65 of earnings and one–half of earnings over $65 received in a month.
- Income tax refunds.
- Food assistance under the Supplemental Nutrition Assistance Program (SNAP).
After subtracting these exclusions, the remaining amount is your countable income. If your countable income is over the approved limit of $794 for an individual or $1,191 for a couple (as of 2021), you would not be eligible for SSI benefits.
Work Incentives & SSI
The SSA also implements work incentives known as the Student Earned Income Exclusion (SEIE) and Earned Income Exclusion (EIE), which allow disabled individuals who are under age 22 and regularly attending school, or those who work, to earn a considerable amount without affecting their SSI eligibility:
- For the SEIE in 2021, the limit is $1,930 monthly, up to an annual limit of $7,770.
- For the EIE, the first $65 (or $85 if you have no other income) plus half of the remaining amount will be excluded.
Key Takeaways
Understanding SSI eligibility and income limitations can seem daunting. Here are the key points to keep in mind:
- Eligibility for SSI is based on your income and resources.
- As of 2021, the income limit for SSI is $794 per month for an individual and $1,191 for a couple.
- The limit on resources is $2,000 for an individual and $3,000 for a couple.
- The SSA only considers ‘countable income,’ with certain exclusions.
- The SSA offers work incentives that allow you to earn additional income without affecting your SSI payments.
Conclusion
Understanding how much money you can make and still be eligible for SSI can be complex, but with the right information at your disposal, you can navigate this process effectively. If you’re considering applying for SSI, make sure you’re familiar with the current income and resource limits, as well as the exclusions and work incentives available. As always, it’s recommended to consult with a financial advisor or legal professional to ensure you’re getting the most out of your benefits and optimizing your overall financial health.