SSI vs SSDI: Differences Between Programs Explained by a Las Vegas Social Security Disability Lawyer
Differences in SSI vs SSDI Programs
There are some major differences between the two programs, including:
- Funding. Your payroll pays for Social Security Disability benefits. Funding for SSI comes from federal tax revenues.
- Needs. They both require some sort of disability to receive benefits. However, applicants can only receive SSI if they have low incomes and few assets.
- Age. To receive SSD benefits, the applicant must be under the age of 65. In some cases, an applicant may be under the age of 66.
The key difference between SSI in Las Vegas and SSD is that SSI is need-based. The Social Security Administration considers your income and assets when making the decision. When considering SSI applications, the Social Security Administration has two sets of criteria for married people and individuals.
- Possess less than $2,000 in resources (including assets and saved money)
- Own no more than one automobile
- Own no more than one home, which must be the applicant’s primary residence.
Married couples face the same criteria, except they can possess up to $3,000 in combined assets.