Quick Answer: What Can I Use SSI Money For?

What is the minimum SSI payment?

The ordinary SSI payment in 2020, without any reductions for income or additions for a state supplement, is $783 for an individual and $1,175 for a couple.

From year to year, those amounts, called the “federal base rate,” increase to account for increased costs of living..

Can you own a car on SSI?

Yes. If you receive Social Security Disability Insurance (SSDI), there is no limit to how many cars you can own. If you receive Medicaid or Supplemental Security Income (SSI), you are allowed to own one car. We have a lot more information about disability benefits and cars here.

Can you save your SSI money?

If you stay under the resource limit, you can save money in any way you want. As long as you are under the resource limit, your savings will not affect your SSI. If you go over the resource limit, your SSI check will stop. … Money saved in certain ways will not count towards your resource limit!

Does SSI make extra money?

Maximum Federal Supplemental Security Income (SSI) payment amounts increase with the cost-of-living increases that apply to Social Security benefits. The latest such increase, 1.3 percent, becomes effective January 2021.

How Much Will SSI checks be in 2020?

Effective January 1, 2020 the Federal benefit rate is $783 for an individual and $1,175 for a couple. Some States supplement the Federal SSI benefit with additional payments.

How much money can you make and still get SSI?

Social Security excludes the first $65 in earnings and one-half of all earnings over $65 in a month. The earned income exclusions mean that in 2021 a person can earn about $1,650/month and still qualify for SSI (though the monthly payment is reduced when you have countable income).

Can I receive SSI if I am homeless?

Having a permanent residence is not a requirement for receiving SSI. If you are homeless, you may receive up to the maximum SSI amount payable in your state. … If you live in a public shelter, you can receive SSI benefits for up to 6 months out of any 9 months that you live there.

Can SSI pay for your rent?

While Social Security Disability does not offer specific aid for utilities or rent, you can use your benefit payments for whatever you choose. … However, there is no reason why you can’t use your SSI and SSDI payments to pay for things like rent and utilities.

Does SSI track your spending?

The Social Security Administration (SSA) looks into the “countable resources” of each SSI recipient to ensure that they are within the program’s limits. Countable resources are things that you own such as money, property, stocks, and bank accounts that are counted under the program.

Why did I get an extra SSI payment?

An overpayment can occur for several reasons, including a change in your living situation or marital status, or simply a miscalculation or other error on Social Security’s part.

How can I increase my SSI benefits?

Try these 10 ways to increase your Social Security benefit:Work for at least 35 years.Earn more.Work until your full retirement age.Delay claiming until age 70.Claim spousal payments.Include family.Don’t earn too much in retirement.Minimize Social Security taxes.More items…