DID YOU KNOW? Did you know that there are two social security programs available for benefits? There are Title 16 benefits, also known as Supplemental Security Income (“SSI”) benefits and there are Title 2 benefits, also known as Social Security Disability (“SSD”) benefits.
SSI is need based. If you have minimal assets and household income below a certain threshold, you can qualify. Your work history does not matter.
SSD is work based. When you pay social security income taxes, you earn “work credits.” Generally, you need to have earned 20 work credits in the past 10 years to qualify.
You can absolutely qualify for both of these programs, though your benefits may be adjusted if you are drawing from both. When you sign up for social security, you are automatically applied for both. There are other types of benefits available, but these are the most common. Next week, we will be discussing how a social security claim works.
If you would like to file for social security, call any of our offices - we are standing by to help you!
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