Chambliss, Bahner & Stophel, P.C. has made available for download their article, “An Introduction to Supplemental Security Income (SSI)”, published in JDSUPRA. The abstract is as follows:
Supplemental Security Income (SSI) is a federal program that helps people with disabilities and very low incomes pay for food, clothing and shelter. It also is a key avenue to Medicaid coverage.
SSI is often confused with Social Security Disability Insurance (SSDI). One of the main differences between the two programs is that SSDI is available to people with disabilities no matter how much money they have or earned before becoming disabled (with limits on their income from work after qualifying for benefits), while SSI places very strict limits on a recipient’s income and assets. However, in most states, an SSI beneficiary who receives even $1 from the program also qualifies for Medicaid health coverage, which can be far more valuable than SSI’s benefit itself.
Because SSI’s income and resource limits are so restrictive, it pays to know the basics about the program before deciding whether it is right for you or your family member.
Posted by Marin Larkin, Associate Editor, Wealth Strategies Journal.