What is SSI, also known as, Supplemental Security Income?
(SSI) pays benefits to people that the Social Security Administration finds disabled.
Who qualifies
SSI is a safety net program or welfare program, that pays benefits to people who are disabled, as defined under SSA regulations; blind; or 65 and older. They must have very limited income and assets.
How to qualify
SSI is not tied to a recipient's work history. This means that you can receive SSI if you never have worked, have very little work history, or if you ever paid Social Security taxes at all. But keep in mind that your income and assets, such as bank accounts and property, must not exceed certain limits.
How much will I be paid if I am on SSI?
In 2022, the maximum monthly SSI payment is $841 for an individual and $1,261 a month for a couple receiving SSI jointly. Income up to those levels can result in your benefit being reduced; and sometimes if you are earning too much income you may not even be eligible for the program. The resource or asset limit is $2,000 for an individual and $3,000 for a couple. However, not all income and assets count against the resource or asset limit. For example, Social Security allows you to have one house and one car and it not be counted towards the asset limit.
Financing and administration
SSI is managed by the Social Security Administration, but Social Security taxes do not pay for it. In fact, SSI is paid out of general revenues that the Treasury Department collects to run the U.S. government. Social Security began handling SSI when the program was established in 1972 to replace various state programs that provided federally financed benefits for older, blind and disabled people in financial distress. Some states offer additional state benefits to SSI recipients on top of the federal payment.