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SSI vs SSDI Differences // Elder Needs Law - YouTube
Channel: Elder Needs Law, PLLC - Medicaid Planning Lawyers & Elder Law Attorneys
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it's very common for clients to come to me and聽
say that they're receiving ssi when they mean聽聽
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ssdi or ssdi when they mean ssi or they'll just聽
say i'm on disability and and they don't know聽聽
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exactly what that means ssi and ssdi are programs聽
run through the social security administration聽聽
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and they're very different programs and it's聽
really important to understand the difference聽聽
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most commonly it's because people come to me聽
and they go i'm on disability and i'm about to聽聽
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get this inheritance uh or a personal injury聽
settlement and i don't want it to negatively聽聽
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impact my disability i don't want to lose my聽
disability and when i say well uh what program聽聽
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are you on they're not exactly sure they just聽
say disability well again disability can refer聽聽
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to ssi or ssdi so i think it's important to talk聽
at least briefly about the differences between聽聽
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these programs and then you'll better understand聽
uh the implications of coming into money what聽聽
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that is on one program versus the other because聽
they're very different um so let's start with ssi聽聽
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ssi stands for supplemental security income and聽
that is a program for folks who are either over聽聽
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the age of 65 or under the age of 65 and disabled聽
that's why this program is also sometimes referred聽聽
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to as disability right you have to be disabled to聽
qualify for ssi if you were under the age of 65.聽聽
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um you also have to meet an asset threshold聽
ssi says you cannot have more than two thousand聽聽
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dollars in what they consider to be countable聽
resources luckily not everything's countable but聽聽
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you know money in the bank certainly聽
is and if you're coming into money聽聽
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that will be a countable resource so if you have聽
more than two thousand dollars you're not on ssi聽聽
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that's number one but uh it's also for folks who聽
are making less than a certain amount of income uh聽聽
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this year the benefit rate is 841. meaning if聽
you make more than 841 from any income source you聽聽
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will not qualify for ssi that's very important to聽
know because another way of distinguishing between聽聽
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these two programs is people say i'm on ssi and聽
i receive 1200 a month from social security well聽聽
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i'll say well for sure you are not on ssi聽
because you make more than 841 and you might聽聽
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be on ssdi and that's another conversation聽
and we're going to get to that in a second聽聽
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but if you make less than 841 dollars and you have聽
under 2 000 in assets you can then apply for ssi聽聽
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and if you're under the age of 65 and disabled聽
you'll be approved or for the over the age of聽聽
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65 you're kind of assumed you know you don't have聽
to meet the disability requirement at that point聽聽
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and if you make at least one dollar in in聽
social security income you will automatically聽聽
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be entitled to medicaid which can provide very聽
valuable uh health insurance benefits for folks聽聽
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who normally can't afford health insurance so so聽
again that's why sometimes even getting a dollars聽聽
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worth of applying just to get that dollar聽
is valuable because of the health insurance聽聽
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benefits that you get immediately once you get at聽
least one dollar of ssi uh you are automatically聽聽
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entitled to medicaid um i believe that's聽
nationwide it's for sure the case in florida聽聽
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um so let's compare and contrast that with ssdi oh聽
i should say one more thing about ssi the current聽聽
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federal benefit rate for the current amount the聽
most you can make from ssi is 841 that's a 2022聽聽
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number that number will increase every year so if聽
you're watching this in later years check back and聽聽
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do some quick googling and and that number will聽
likely be higher but right now it's 841 if you聽聽
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receive more than 841 dollars you are not on ssi聽
you may be on ssdi ssdi is the social security聽聽
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disability insurance program and i think insurance聽
is a really key word for us to think about because聽聽
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it you only get it if you buy into it right聽
when you work for a certain number of years聽聽
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uh and you're fully vested in the program you聽
are essentially through your job you are paying聽聽
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insurance premiums and if you become disabled聽
while you're working you can then apply for social聽聽
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security disability or social security disability聽
insurance or the ssdi program again you've worked聽聽
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you've paid into the system and that's the primary聽
way that people qualify for the ssdi program聽聽
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you have to be under the age of 65. ssdi is聽
essentially getting your retirement benefits early聽聽
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once you turn 65 it'll automatically convert to uh聽
social security retirement you don't have to file聽聽
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anything it just will sort of happen but if you're聽
under the age of 65 and you can't work because of聽聽
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an injury or whatever the case is you paid into聽
the system you will plot you apply for ssdi聽聽
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and you can make significantly more receive聽
significantly more than eight hundred and forty聽聽
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one dollars you know it could be several聽
that a couple thousand dollars or more聽聽
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in ssdi benefits now what happens is when you聽
initially qualify for that benefit you don't聽聽
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receive any health insurance like ssi once you get聽
it you get the medicaid immediately with ssdi you聽聽
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have to wait two years and after that two year聽
period has elapsed you will then be entitled to聽聽
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medicare not met ssi is medicaid ssdi you聽
get medicare after two years and again聽聽
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that's it all ties into when you turn 65 then you聽
just kind of roll into your that's your normal聽聽
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medicaid medic i'm sorry medicare enrollment聽
date anyway and that that's what that is but聽聽
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what's important to note about ssdi is that is not聽
a means-tested program ssi you have to make less聽聽
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than a certain amount of money you have to have聽
less than a certain amount in resources or to聽聽
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qualify for ssi ssdi that is not the case you got聽
that program because you paid into the system like聽聽
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an insurance policy so it doesn't matter what you聽
have in the bank you can still qualify for ssdi聽聽
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does it matter if you're receiving an inheritance聽
it doesn't matter if you're getting a personal聽聽
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injury settlement once you receive that money聽
if you're on ssdi you will not lose any benefit聽聽
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because they don't care about what you have in聽
your bank account they don't care about if you聽聽
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make money from other sources you get that benefit聽
because of what you paid into the system so that's聽聽
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where the conf that's why when people get these聽
programs confused it's really important because聽聽
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i get multiple people they'll come to me and聽
say i'm on ssi when they really mean ssdi which聽聽
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is always good news for them right they think聽
they're going to lose their benefits and i get聽聽
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to be the bearer of good news and say hey you're聽
making 1200 bucks a month or or you know 900 a聽聽
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thousand dollars a month or more congratulations聽
go ahead and accept that inheritance go ahead and聽聽
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settle that personal injury case because it's聽
not going to jeopardize your access to ssdi it's聽聽
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not going to jeopardize your access to medicare聽
all is well if you have ssi on the other hand聽聽
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and medicaid if you receive an inheritance聽
or a personal injury settlement聽聽
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your benefits are in jeopardy and there are聽
ways to plan around that so if you have ssi聽聽
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give us a call set up a consultation anywhere聽
in florida and we can talk about how to protect聽聽
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that money if you have ssdi you're fine um if聽
you're not sure you can schedule a consultation聽聽
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and we can work our way through it i mean聽
you can just look at your request a copy of聽聽
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your social security benefits statement and聽
it'll it'll break down the programs for you聽聽
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hope this video has been helpful by the way if聽
you were confused you're a good company i talk聽聽
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to lots of people every week who don't know that聽
when they say they know they're on disability聽聽
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but they're not sure which program they're聽
on i hope this videos provide some clarity聽聽
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if you've enjoyed it please give it a thumbs up聽
please share it please subscribe to the channel聽聽
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that's my goal is to try to get good practical聽
information out into the world we serve the聽聽
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entire state of florida again i'm jason neufeld聽
with elder needs law thank you for watching
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