How much money are you allowed to make on disability?
When it comes to disability benefits, one of the most common questions people have is how much money they are allowed to make. Understanding the income limits set by the Social Security Administration (SSA) is crucial for individuals who are receiving or planning to apply for disability benefits. This article will delve into the details of these income limits and provide valuable insights for those navigating the complex world of disability benefits.
Understanding the Basics of Disability Benefits
Disability benefits are designed to provide financial support to individuals who are unable to work due to a medical condition that is expected to last at least one year or result in death. These benefits are available through two main programs: Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI).
SSDI Income Limits
For individuals receiving SSDI, there are specific income limits that determine how much they can earn while still maintaining their eligibility for benefits. The income limit is known as the Substantial Gainful Activity (SGA) limit. As of 2021, the SGA limit for disabled individuals is $1,310 per month. If a disabled individual earns more than this amount, they may lose their SSDI benefits.
SSI Income Limits
SSI benefits, on the other hand, are needs-based and have different income limits. The income limit for SSI is calculated by considering the individual’s countable income, which includes wages, Social Security benefits, and other sources of income. The limit is adjusted annually, and as of 2021, the SSI income limit for an individual is $845 per month. However, there are also asset limits, which can affect an individual’s eligibility for SSI.
Understanding Work Incentives
It’s important to note that the SSA offers various work incentives to encourage individuals with disabilities to return to work or increase their income. These incentives include trial work periods, extended periods of eligibility, and expedited reinstatement. By understanding these incentives, individuals can make informed decisions about their work and benefits.
Seeking Professional Advice
Navigating the income limits and work incentives for disability benefits can be challenging. It’s advisable to seek professional advice from a disability attorney or a financial advisor who specializes in disability benefits. They can provide personalized guidance and help you understand how your income will affect your benefits.
Conclusion
Understanding how much money you are allowed to make on disability is essential for maintaining your eligibility for benefits. By familiarizing yourself with the income limits and work incentives, you can make informed decisions about your financial future. Remember to seek professional advice when needed, and don’t hesitate to explore the various resources available to help you navigate the complex world of disability benefits.
