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A new SSI rule may help more retired adults qualify

On Behalf of | Oct 6, 2024 | Social Security Administration News

People in a variety of circumstances may need financial assistance to cover the basic expenses of daily life. There are federal benefits programs that can provide regular financial support to those who cannot work and struggle to afford the ever-increasing cost of living.

Supplemental Security Income (SSI) is one of several benefits managed by the Social Security Administration (SSA). Numerous people may qualify for SSI benefits each month. SSI is available for children with profound disabilities who have not worked and are therefore ineligible for Social Security Disability Insurance (SSDI) benefits. SSI is also available to those with debilitating medical conditions and those who are blind.

Older adults may also qualify for SSI, possibly in addition to Social Security retirement benefits if they worked long enough to qualify for retirement benefits. Applicants seeking SSI have to meet not just technical qualifications but also economic standards. There are strict limits on their personal assets and their income. A new rule adopted nationwide for SSI applicants may help some older adults qualify for these important benefits.

What rule changed?

The SSA looks at almost all sources of income and all major assets when determining if an applicant qualifies. Previously, a handful of states allowed people to qualify for SSI benefits without first considering their housing benefits. Seniors living on a fixed income frequently qualify for housing benefits that can help them afford rental prices. Those benefits previously prevented some people from qualifying for SSI because of how valuable they were. However, that has now changed. The previous policy that only applied to a few states is now applicable nationwide.

Older adults who receive rental support as a government benefit can potentially qualify for SSI without those benefits diminishing their eligibility or reducing how much they receive. Many people who were previously ineligible for SSI could now apply and obtain benefits. Others who receive SSI already could potentially increase how much they receive monthly.

Tracking changes to SSI benefit rules can help older adults make use of the systems in place for their financial stability after retirement. Those who receive housing benefits may now be eligible for SSI in addition to the housing support they currently receive.

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