SSI Payment Calculator

How Are SSI Payments Calculated

SSI Calculation Formula:

\[ SSI = \text{max\_benefit} - \text{countable\_income} \]

Estimated SSI Payment:

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1. What is Supplemental Security Income (SSI)?

Supplemental Security Income (SSI) is a federal income supplement program funded by general tax revenues (not Social Security taxes). It helps aged, blind, and disabled people who have little or no income by providing cash to meet basic needs for food, clothing, and shelter.

2. How Are SSI Payments Calculated?

The basic SSI calculation is:

\[ SSI = \text{Maximum Benefit Amount} - \text{Countable Income} \]

Where:

Maximum Benefit Amount — The federal benefit rate (FBR), which is $943/month for individuals in 2024 (may be higher in some states)
Countable Income — The portion of your income that SSI considers when calculating your benefit

Key Points:

If countable income exceeds the maximum benefit, you receive $0 SSI
Some states supplement the federal SSI payment
Not all income counts toward the SSI calculation

3. Understanding the Components

Maximum Benefit Amount: This is set annually by the federal government. In 2024, it's $943 for an individual and $1,415 for a couple.

Countable Income: Includes:

Earned income (wages, self-employment) minus $65 exclusion and half of remainder
Unearned income (Social Security, pensions, gifts) minus $20 exclusion
In-kind support and maintenance (food or shelter you get for free or less than fair market value)

4. Using the Calculator

Instructions:

Enter the current maximum benefit amount (default is $943 for 2024)
Enter your total countable income
Click "Calculate" to see your estimated SSI payment

Note: This calculator provides an estimate only. Actual SSI payments may vary based on your specific circumstances and state supplements.

5. Frequently Asked Questions (FAQ)

Q1: What income doesn't count toward SSI?
A: The first $20 of most income, first $65 of earnings, SNAP benefits, home energy assistance, and some other types of assistance.

Q2: How often is SSI paid?
A: SSI payments are made on the 1st of each month (or the preceding business day if the 1st falls on a weekend/holiday).

Q3: Can I have assets and still get SSI?
A: Yes, but resource limits apply ($2,000 for individuals, $3,000 for couples). Some assets (like your home) don't count.

Q4: Does SSI affect other benefits?
A: SSI recipients typically qualify for Medicaid and often for SNAP (food stamps) as well.

Q5: How do state supplements work?
A: Some states add money to the federal SSI payment. These amounts vary by state and living arrangement.