Supplemental Security Income

What Does Supplemental Security Income Mean?

Supplemental Security Income (SSI) is a program established by the United States government in 1974 to replace federal and state adult assistance programs. As part of the Social Security Act, SSI provides stipends to low-income individuals who are disabled, blind, or 65 years of age or older. It is funded through the U.S. Treasury’s general funds, and currently, around 8 million Americans benefit from it.

Insuranceopedia Explains Supplemental Security Income

Although the application form for Social Security benefits is the same as that for SSI, the two programs are quite different. Some of the key distinctions between them include:

• Unlike Social Security benefits, SSI benefits are not based on the individual’s or their family member’s prior work history. In contrast, individuals who pay Social Security taxes and work for a sufficient duration are eligible to receive Social Security benefits.
• Many states provide SSI beneficiaries with medical assistance to help cover doctors’ bills, hospital stays, and other medical expenses.
• Additionally, many states offer supplemental payments to certain SSI beneficiaries.