Thinking about getting Social Security benefits might seem confusing. Many people see it as an important goal, but they don’t understand the stress that comes with financial struggles. It’s essential to grab any opportunity to avoid falling into poverty. Supplemental Security Income (SSI) can be that lifeline. This article will explain how to apply for SSI if you or someone you know is having financial difficulties.
How Does Social Security Work?
Social Security is mainly known for its old-age insurance program. This program gives a monthly payment to seniors who are 62 or older. The amount you get depends on how much Social Security tax you’ve paid over your life, with at least 10 years of payments needed to qualify.
The Social Security Administration (SSA) does more than just provide insurance for old age and disability. SSA also runs SSI, which helps Americans struggling to meet their needs, giving them time to recover financially. This is the main purpose of SSI.
How to Apply for Social Security Benefits
Applying for SSI is different from other SSA programs. You don’t need to meet any tax-related requirements or make a payment to get benefits. Here are the main criteria for applying:
Demographic Criteria
- Age: You must be 65 years old or older.
Income Criteria
- Monthly Earnings: You must earn $1,971 or less if you apply alone, or $2,915 if you apply as a couple.
Asset Criteria
- Assets: You must have $2,000 in applicable assets if you’re applying as an individual, or $3,000 for a couple.
Even if you’re not a U.S. citizen, you might still qualify for SSI if you meet these criteria.
When Will You Receive Your Payment?
The payment schedule for SSI is straightforward. If you started receiving benefits before May 1997, you get your payment on the third of the month. If you started after May 1997, you receive your payment on the first of the month, unless it falls on a weekend or holiday. In that case, you’ll get your payment on the business day before.
For example, the next SSI payment will be issued on July 1st. If you don’t receive it by then, wait three additional postal days before contacting SSA.
FAQs
1. What is the main goal of SSI?
The primary goal of SSI is to help those at risk of poverty by providing financial aid to meet their basic needs.
2. Can non-citizens apply for SSI?
Yes, in certain cases, non-citizens can apply for and receive SSI benefits.
3. How often are SSI payments made?
SSI payments are made monthly, either on the first or third of the month, depending on when you started receiving benefits.
4. What should I do if I don’t receive my payment on time?
If your payment is late, wait three additional postal days before contacting SSA to file a claim.
5. What are the income limits for SSI?
You must earn $1,971 or less monthly if applying alone, or $2,915 or less if applying as a couple.
Applying for SSI can be a crucial step in avoiding financial hardship. By understanding the application criteria and payment schedules, you can better prepare and take advantage of the support available. SSI is designed to help the most vulnerable, ensuring they have the means to meet their basic needs and avoid poverty.