what is the difference between social security and supplemental security income?
What is the difference between social security and supplemental security income?
Answer:
Social Security:
- Social Security is a federal program that provides benefits to retired workers, their spouses, and dependent children, as well as disabled individuals.
- To be eligible for Social Security benefits, you must have worked and paid Social Security taxes for a certain number of years. The amount of your benefit is based on your earnings history.
- Social Security benefits are not based on financial need but on your work history and earnings.
Supplemental Security Income (SSI):
- Supplemental Security Income is a federal income supplement program that is designed to help aged, blind, and disabled people who have little or no income.
- Unlike Social Security, SSI is a need-based program, and eligibility is based on financial need. The amount of the benefit is set by federal law and can vary depending on the individual’s circumstances.
- To qualify for SSI, applicants must meet certain income and resource limits. It is not necessary for applicants to have paid Social Security taxes to be eligible for SSI benefits.