“What is the difference between SSI and SSDI?” you ask? Although both of these programs are administered by the Social Security Administration (SSA) and assist people with disabilities, they have some critical differences. Social Security Income (SSI) is a need-based program available to people who have never worked or who haven’t worked long enough to qualify for SSDI. Social Security Disability Insurance (SSDI) is funded through taxes and to qualify, you must have worked long enough to gain the required number of work credits. Still wondering, “What is the difference between SSI and SSDI?” Scroll down to learn more about these two government benefit programs and how they differ.
What Is the Difference Between SSI and SSDI?
So what is the difference between SSI and SSDI? The simplest way to distinguish the two is this: SSI serves the needy (those who have limited income and resources) and SSDI serves workers who have contributed to the Social Security trust fund through their taxes (as long as they worked long enough to meet the SSA’s requirements). Although they are both administered by the Social Security Administration, they are distinct programs with different requirements, guidelines, and benefits. Let’s learn a little more about each program.
SUPPLEMENTAL SECURITY INCOME
To receive SSI, you cannot have more than $2,000 in assets, you must have a limited income (or no income), and you must have a qualifying disability. Most people who receive SSI also qualify for and/or receive food stamps and Medicaid. The amount of benefits you receive are dependent on your location and once you qualify, you will begin receiving benefits immediately. Payments are made on the first day of each month. The funds for SSI come from the U.S. Treasury Department’s general revenues, and the program was created fourteen years after SSDI, in 1974.
SOCIAL SECURITY DISABILITY INSURANCE
To receive SSDI, you must be younger than 65, have earned the required number of work credits, and have a qualifying disability. The number of work credits required depends on your age, so if you’re wondering how many credits you need, please click here to see a full chart. The amount of benefits you receive will depend on your earnings record. After you qualify, there is a five-month waiting period before you will begin receiving benefits. Also, SSDI benefits can be paid to the widows/children of disabled workers and people who have been disabled since childhood. The funds for SSDI come from working people (employers, employees, and self-employed workers).
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Still wondering, “What is the difference between SSI and SSDI?” Or maybe you have additional questions about your Social Security disability application? Contact BTS Group, Inc. Our disability representatives would be happy to further explain the answer to you and address any other concerns you might have. We can work with you to ensure that your disability claim is successful, monitoring the case throughout and helping you with any appeals. Give us a call at 1-866-441-4BTS (4287) or request a free case evaluation online. We look forward to hearing from you!