How much money may be available through SSI?

by Jan 22, 2015

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Money can be the source of great stress for people who are unable to work. Without an income, people can struggle enormously to take care of themselves and their families. When an injury or disability is the reason for not being able to work, the situation can be even more overwhelming.

That is why it is crucial for people in this situation to understand that they may be eligible to receive financial support in the form of Supplement Security Income, or SSI. This money is available to people with few or no options for earning an income and limited assets and it can be an extremely helpful source of support. However, there are limits placed on these payments and it can be important to know what these limits are.

The most amount of money that can be available through SSI for an individual is $8,796 a year, or $733 a month. Many people may not qualify for maximum benefits because the Social Security Administration can reduce a person’s limits by taking into account factors including other sources of income.

SSI payments aren’t going to make anyone rich, but they can be absolutely essential for the people who need and rely on them. Too often, people make the mistake of assuming that people who collect SSI or SSDI payments are just taking advantage of a broken system to get money. However, this is a seriously misguided assumption that can make people feel bad if they are considering their options to pursue federal benefits.

If you are in the position of being unable to work, you should not feel like you are doing anything wrong when you decide to pursue these and other critical benefits. They are there to help people who are struggling and are disabled, blind or over the age of 65. Working with an attorney to explore your options and navigate the application process can be an important step in securing financial support.