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The Financial Thresholds for Social Security Disability

The Financial Thresholds for Social Security Disability

Navigating the financial aspects of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) can be complex. At Mestayer Law Firm, we’re committed to helping our clients understand these crucial elements. This blog post will delve into the financial thresholds associated with SSDI and SSI, offering clarity and guidance.

SSDI: Income and Work Credits

Income Limits: For SSDI, a key financial threshold is the Substantial Gainful Activity (SGA) limit. Earning more than this limit can disqualify you from receiving SSDI. The SGA amount is adjusted annually, so staying informed about these changes is important.

Work Credits: Qualifying for SSDI also depends on work credits, which are based on your work history and the amount you’ve paid into Social Security taxes. Generally, you need 40 credits, 20 of which were earned in the last 10 years. However, younger workers may qualify with fewer credits. More information on work credit requirements can be found on our Social Security Disability Insurance page.

SSI: Income and Asset Limits

Unlike SSDI, Supplemental Security Income is need-based and doesn’t require work credits.

Income Limits: SSI considers your income and resources. If your income or assets exceed a certain level, you may not qualify. This includes both earned income (from work) and unearned income (like pensions or other benefits).

Asset Limits: As of the current year, individuals cannot have more than $2,000 in assets, while couples are limited to $3,000. Certain assets, like your home and car, are typically excluded from this count.

Navigating Financial Eligibility

Determining financial eligibility for SSDI and SSI can be tricky. It involves a thorough understanding of the income and asset limits, as well as how your individual circumstances fit into these guidelines. For specific guidance on navigating these financial thresholds, consider consulting a knowledgeable Social Security Disability attorney.

The Importance of Accurate Reporting

Accurately reporting income and assets is crucial when applying for SSDI or SSI. Inaccuracies can lead to denied claims or future complications. Regularly updating the Social Security Administration on any income changes is also essential to maintain eligibility.

Legal Assistance for Complex Cases

If you find the financial thresholds and criteria confusing, you’re not alone. Mestayer Law Firm has extensive experience in handling complex Social Security Disability cases. Our team can help clarify these financial guidelines and assist in preparing your application or appeal.

Understanding the financial thresholds for SSDI and SSI is a critical step in securing the benefits you need. These thresholds are designed to ensure that those who most need support receive it. If you’re preparing to apply for disability benefits or have questions about your financial eligibility, contact Mestayer Law Firm. Our expertise can help simplify the process, ensuring you have the best chance of securing the benefits you deserve.

No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.

This article does not create an attorney-client relationship. I am licensed to practice law in Mississippi and have based the information presented on US laws. This article is legal information and is for entertainment and informational purposes only and should not be seen as legal advice. You should consult with an attorney before you rely on this information. Any information provided in this blog is accurate and true to the best of my knowledge, but there may be omissions, errors or mistakes.

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