We see it all the time! A common misuse of terms like SSI, SSDI, and disability when referring to the financial supports available to the elder population. There are some important differences. Elder Law Attorney Jason Neufeld discusses https://www.elderneedslaw.com/elderl...

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Transcript:

It's very common for clients to come to me and say that they're receiving SSI when they mean SSDI or SSDI, when they mean SSI, or they'll just say I'm on disability and and they don't know exactly what that means. SSI and SSDI are programs run through the Social Security Administration, and they're very different programs. And it's really important to understand the difference.

Most commonly, it's because people come to me, they go, I'm on disability, and I'm about to get this inheritance or personal injury settlement, and I don't want it to negatively impact my disability, I don't want to lose my disability. And when I say, Well, what program are you want, they're not exactly sure they just say disability. Well, again, disability can refer to SSI, or SSDI.

So I think it's important to talk at least briefly about the differences between these programs, and then you'll better understand the implications of coming into money, what that is on one program versus the other because they're very different. So so let's start with SSI. SSI, stands for supplemental security income. And that is a program for folks who are either over the age of 65, or under the age of 65, and disabled. That's why this program is also sometimes referred to as disability right, you have to be disabled to qualify for SSI. If you're under the age of 65. You also have to meet an asset threshold, SSI says you cannot have more than $2,000 in what they consider to be countable resources. Luckily, not everything's countable, but most money in the bank certainly is. And if you're coming into money, that will be a countable resource. So if you have more than $2,000, you're not on SSI. That's number one.

But it's also for folks who are making less than a certain amount of income. This year, the benefit rate is $841. Meaning if you make more than $841, from any income source, you will not qualify for SSI. That's very important to know because another way of distinguishing between these two programs is people say I'm on SSI, and I receive $1,200 a month from Social Security. Well, I'll say well, for sure you are not on SSI, because you make more than $841. And you might be on SSDI. And that's another conversation and we're going to get to that in a second.

But if you make less than $841, and you've under $2,000 in assets, you can then apply for SSI. And if you're under the age of 65, and disabled, you'll be approved or for the over the age of 65, you're kind of assumed you don't have to meet the disability requirement at that point. And if you make at least $1 in in Social Security income, you will automatically be entitled to Medicaid, which can provide a very valuable health insurance benefits for folks who normally can't afford health insurance. So So again, that's why sometimes even getting a dollars worth of applying just to get that dollar is valuable because of the health insurance benefits that you get immediately. Once you get at least $1 of SSI. You are automatically entitled to Medicaid. I believe that's nationwide, it's for sure the case in Florida.

So let's compare contrast that with SSDI...