How to Figure Out SSI Benefits
Supplemental Security Income benefits are paid to anyone who is disabled or has reached the age of retirement and meets the income criteria. This program is used to provide supplemental income to low income individuals with a disability in the United States. The amount of SSI benefits you will receive depends on the amount of income that is currently being brought in.
- Know that the maximum SSI benefit amount that is awarded monthly is $678.
- Determine if the applicant has monthly living expenses that need to be paid. If the applicant does not pay rent or mortgage, you will need to divide the maximum benefit amount by 0.66 to come up with the maximum amount for someone who does not pay monthly living expenses.
- Add up the amount of unearned income that is received in the household. Subtract $20 from this amount. For example, if you have $50 in unearned income monthly and you subtract $20 from this amount you now have a total amount of $30 in unearned income.
- Subtract this amount from the maximum benefit amount. In this example you would subtract $30 from $678 for a total of $648.
- Add up the earned income in the household, and subtract $65 from this total. For example, if you have $200 a month in earned income, and then you subtract $65 from this total, you have a new earned income total of $135.
- Divide the earned income total by 2 to come up with a new total.
- Subtract this amount from the figure that you determined in step 4. For example, in step 4 it was determined that after subtracting the unearned income and standard deduction the new maximum amount is $648. You would then subtract half of $135 from the maximum amount of $648 for a monthly benefit amount of $513.