SSI vs SSDI: Especially when trying to grasp the variations and interconnections between Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI), navigating the Social Security benefits terrain can be challenging. But did you know some folks qualify for both perks at once? Let’s explore this and what it entails for people looking for concurrent benefits.
SSI vs SSDI
Concurrent Advantues: What Does It Mean?
Someone is said to be “concurrent” benefited when they qualify for both SSI and SSDI. This kind of event is not as rare as one would believe. If someone applied for SSDI and SSI on February 27, 2022, for example, and their medical condition compelled them to stop working on February 14, 2019 (their “allegated start date,” disability), they would possibly get payments from both programs. This usually results from low enough SSDI benefits that they are less than the SSI income level.
Returning to work and its impact
Returning to work might change a person’s concurrent benefits. The Social Security Administration (SSA) offers several employment incentives meant to enable people to return into the workforce while still getting benefits. Rules allowing a trial work period, for instance, let a recipient evaluate their capacity to work without forfeiting benefits.
SSDI benefits could be cut or withdrawn, though, as income rises above a certain amount called the substantial gainful activity (SGA) level. For SSI, income and resources define continued eligibility; only the initial claim takes SGA into account.
Transition to Retirement Benefits
What happens to Social Security disability benefits after a person reaches full retirement age is a frequent concern. Disability benefits translate at full retirement age into retirement payments automatically. On one earnings record, one cannot simultaneously get disability benefits and retirement benefits. Your disability benefits will terminate once you reach retirement age and you will instead receive retirement benefits.
Although these subtleties can be difficult, knowing the possibilities and constraints of concurrent benefits helps one negotiate the system somewhat more easily. To maximize your benefits, whether you are thinking about applying for SSI, SSDI, or both, keep educated and get advice.
){kind=link}