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Strict Income Requirements May Prevent You From Qualifying for SSI

Often times, individuals do not meet the criteria to qualify for Disability Insurance Benefits, or benefits based on the amount of credits they have earned over the course of their employment history.  Fortunately, if a person does not have enough work credits, or does not have an employment history, the Social Security Administration offers a program called Supplemental Security Income.

Supplemental Security Income can be claimed by people who have limited income and few resources and are: Age 65, or older; blind; or disabled.  Limited income in the state of New York means that you cannot earn more than $674 a month. Limited resources refers to things you own, such as bank accounts, real estate, stocks and bonds.  More specifically, single individuals cannot have more than $2,000 in resources and $3,000 for married individuals.

Social Security does not count everything a person owns in determining their eligibility.  For example, Social Security does not count:

  • The home you live in and land it is on
  • Life Insurance policies with a face value of $1,500 or less
  • Burial plots for you and members of your immediate family

The Social Security Administration uses a strict mathematical formula based on the household income to determine if a person is eligible for Supplemental Security Income.  But remember, even if you meet the income requirements to receive SSI, you must still be rendered “disabled” by the Social Security Administration.  To learn more about this program, you can visit our site for a more in-depth analysis on SSI, or you can visit Social Security’s SSI section of their website.

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