By Tim Moore on April 3, 2010 12:41 PM
| PermalinkSocial security disability (SSDI) and SSI disability are two separate disability benefit programs administered by the Social Security Administration (SSA). There are important distinctions between the two programs. Individuals who apply for Social Security disability are able to do so because their record of work activity has allowed them to be come insured for SSDI benefits. SSDI is simply a benefit that one is entitled to based on having worked enough to have become insured for disability. Because SSDI is this type of benefit, a person's assets have nothing to do with their potential eligibility to draw and collect SSDI. In other words, whether you have fifty dollars or fifty thousand dollars in the bank makes no difference to the SSA.
SSI disability is different in this regard. SSI is a need-based program. What does that mean? It means that a person's resources, or assets, are taken into consideration. Currently, to receive SSI (after being determined to be disabled according to SSA's rules), an individual cannot have more than two thousand dollars in countable assets. What are countable assets to the SSA? Well, it's easier to define what these are by pointing out what they are not. Countable assets do not include the house you live in, and do not include your primary automobile. However, additional real estate would be counted and so could additional automobiles. All cash, money in bank accounts, and savings are counted toward the resource limit. If you had no other countable resources, you could have up to $2,000 in the bank and still be eligible for SSI. For more information, see our article on which resources are included in the SSI asset limit.
Social Security Disability Posts and Pages
- How good are the approval chances for Social Security disability or SSI?
- When should you apply for Social Security disability or SSI?
- If I get approved for Social Security disability or SSI, how far back will they pay me?
- Medical records and appealing for Social Security disability
- How to improve your chances when applying for SSDI or SSI benefits
- How to appeal after being first denied for SSD?
- How do you start an appeal for Social Security disability?
