Social Security, including retirement, disability, SSDI survivors, and SSI beneficiaries. One simple change to one of these programs could result in a pretty big raise for everyone in a really good way. I have all the details and what you need to know right here on this topic.
As I am your one and only daily advocate, and I’m very much dedicated to you and this community to do all the research and to break it down into these short topics so that you can get the latest details hot off the wire each and every day as this information is being released. There’s a lot going on right now. Things are changing very rapidly. And my dedication is to be here right by your side to help you get as much money, benefits, programs, checks, and anything else we can possibly get our hands on right now.
All right, So that last topic that I was specifically talking about SSI, Supplemental Security Income. Well, in that topic, I also mentioned those of you receiving Social Security benefits, whether it’s retirement or SSDI or survivors or even VA beneficiaries, RRB, low income, low income.
There are a lot of things out there right now as well to help you out. Well, I do want to talk about something in regards to Social Security, retirement, SSDI survivors, and SSI. As I mentioned at the beginning of this topic, one simple change to one of these benefit programs could actually result in a pretty big raise for everyone in a really good way. So I do want to talk through the details on this because like I said, one little shift in these benefits for about 8 million beneficiaries could actually be a shift in a raise to monthly benefits for millions and millions and millions of people. Probably a lot of you right here in this community.
So it’s kind of a pretty big deal here. We got to watch this closely. All right, So one quick side note, as well in that topic from earlier today, just the last topic that I put out, which, by the way, if you’re an SSI beneficiary, if you have not seen that topic yet, I would highly recommend going back and checking that one out after you get done watching this one. There’s some pretty good information in there.
However, in that video, we were talking about a piece of legislation that is floating around Congress right now called the SSI Restoration Act. There are a few good things within it. One thing that I want to highlight right here is this topic. Of course, I’m not going to go into all the details about the SSI Restoration Act. Check out that topic from earlier if you want more details on it.
And I’ve also talked about it previously in other topics. However, I do want to talk about one of the major provisions. And this is kind of like the gravy train. This is the one that we want to focus on really closely. Number one is they want to raise the maximum SSI monthly benefit up to 100% of the federal poverty line.
Okay. But this is for SSI beneficiaries. How would this actually translate into Social Security beneficiaries, including retirement SSDI or survivors beneficiaries? Good question. And that’s exactly what I’m going to explain right here, right now.
Let’s first understand what is the SSI program. I’ll make it quick, I promise. First off, the Supplemental Security program, or sorry, Supplemental Security Income program. Ssi is specifically a program for those individuals who are aged 65 or older and who have limited income or resources and for those individuals who are less than the age of 65 but again, have a disability and have limited income and limited resources. However, let’s think about this a little bit more closely.
Now, here’s the deal. If they go through with any of the provisions out of the SSI Restoration Act, including the one that we’re talking about here, which is raising the monthly benefit up to 100% of the federal poverty line, that product pretty much opens the door for a lot more people to start drawing on these benefits, even if you’re not an SSI beneficiary. Here’s why? Because if they raise the benefits up to 100% of the federal poverty line, that would be effectively a $1,132 monthly benefit. But check this out.
Did you know that if you are somebody who is already receiving Social Security benefits, whether it’s retirement or SSDI or any of these Social Security benefits, if you are aged 65 or older, which generally most people receiving Social Security are over 65, 65 or older, or if you are somebody younger than that and receiving disability benefits, SSDI and again, across the board, you have limited income and resources? Did you know that you can also draw on SSI benefits? Yes, it’s true. It’s called concurrent claims. If you’d like to look it up, by all means, feel free to look it up.
But yes, absolutely, you can draw on both of these benefits provided once again, you are over the age of 65 and or you are younger than that and you have a disability. And of course, you have limited income and resources. So again, let me explain this a little bit further. Here’s what it comes down to. If they raise the maximum SSI benefit up to the federal poverty line, again, $1,132 every single month, this is what it would look like going forward.
If you are somebody who is already receiving Social Security benefits. And again, you have limited income and limited resources. You could potentially start drawing on SSI benefits simultaneously. So yes, you could get retirement benefits and SSI benefits at the same time. Yes, you could get SSDI and SSI benefits at the same time.
This would effectively raise your monthly benefit up to that SSI maximum benefit. So kind of get what I’m saying here. So here’s the deal. If you fall into that category and the SSI monthly benefit is raised up to the federal poverty line, the $1132 per month, $1,132 per month, you could effectively get a raise up to that limit, even if you are somebody receiving retirement benefits or SSDI simply by drawing on both of the benefits simultaneously. Let me give you a quick example.
Let’s just say, for example, you’re receiving SSDI or SSI in the amount of $900 per month. Again, just using this as an example, if the maximum benefit for SSI is $1,132 every single month, that would mean that you’re behind the SSI maximum benefit by $232 every single month. Right. So if you were to draw on both benefit simultaneously, you would get your 900 from one benefit, and then you’d get an extra 232 from the other one on top of it to raise you up to the SSI maximum benefit. Kind of makes sense, provided, of course, your situation allows for that.
Now, again, I want to throw this out there as well. Everybody’s situation is very different. Of course, I don’t know your exact situation. I try to do my best to understand everybody’s situation. But honestly, everybody’s situation is very, very different.
Therefore, I can’t promise you anything, but I can say this much. Yes, you can draw on Social Security benefits and yes, you can draw on SSI benefits simultaneously. Again, concurrent claims is what they call it. So this is a thing. But again, I have to just say this, that of course, I don’t know your situation.
Therefore, everybody’s situation is very different. This may work for some people and it may not work for others simply because everybody’s situation is different. Some people may have too many resources. Some people may have too much income. There are a variety of different factors that make you eligible for SSI and ineligible for SSI.
Right. So the eligibility requirements for Social Security retirement or SSDI is very different than what it is for SSI. Right. So again, I just want to throw that out there just so that we’re all on the same page here. And just so that there is no misunderstanding that like I promised or something, I’m certainly not promising.
I’m simply saying this is a thing that can be done. In fact, I know for a fact that there are some of you here in the community that already receive both of these benefits. The reason I know that is because I’ve seen your comments down below talking about it. So I know for a fact and I’m guessing on this video alone, some of you that receive both of these benefits will probably be leaving comments down below saying I get SSI and I get SSDI or I get retirement benefits. So again, you don’t need to do that.
But if you want to, by all means feel free to write those questions down below. And again, you don’t need to write your benefit amount. That’s not my business. It’s nobody’s business how much you’re getting on a monthly basis. But again, you can write whatever you want.
It’s totally up to you. I’m just saying it’s totally personal business. You don’t need to share that with us. But if you want to, by all means you’re welcome to do whatever you want, right? So anyway, this is one simple change to the SSI program, Supplemental Security Income, that ultimately could come back and actually impact a lot more people than just SSI beneficiaries.
Because it may open the door for many more people who are maybe getting a retirement benefit or an SSDI benefit that’s maybe a little bit higher, bigger than the $841 maximum SSI benefit as of right now, to start drawing on SSI as well in conjunction with your other benefits kind of makes sense. A lot of moving parts. I get it. It’s confusing. But either way, I’m here to help you out in any way that I can, as well as keep you updated with everything going on out there.
I hope this one helps you. And again, we need to cross our fingers that Congress comes forward and actually works on this and get this thing done. And again, as I said in the topic earlier, according to my research and what I’ve been finding, it looks like Congress does want to get this done here within the next handful of months. So as I do get more information, of course, I’ll be right back here for you breaking it all down and helping you out in any way that I can. One more side note.