If you are elderly, disabled or sick with a debilitating health problem that prevents you from working for a full year, you may be eligible for social security payments. However, there are different types of disability programs that you may benefit from. Therefore, it is important to be sure that you have filled out each application within the appropriate time frame. Otherwise, there is the very real possibility of you or your dependents losing out on substantial amounts of money that you will be unable to recoup. 

Common Eligibility Standards For Social Security Income 

Social Security Income, also known as SSI, is income and disability based for people under 65 years of age. Your income needs to be low, in order for you to qualify and benefits are available to people of all ages, including children. The money used to fund these payments is taken from general tax revenue, so the payments are not based on the amount of money you may have earned previously.   

It is important to note that the data used to determine the maximum income level will depend on your family size and existing assets. Therefore, there is not a single income limit that can unilaterally be provided to applicants when they are considering applying. In addition, if you are at least 65 years of age, the income requirement is waived, so even if you have a substantial income or assets, you may still be able to receive benefits. Many SSI recipients are eligible for Medicaid to assist with their medical costs. 

Understanding Social Security Disability Insurance

Social Security Disability Insurance, also known as SSDI, is funded by payments made by workers from each paycheck. It can be considered something of a trust fund or a long-term savings plan. When you or your spouse were working, money was taken from each check and the federal government kept track of the amount of money you paid. However, the check you get may be reduced if you receive other public benefits, such as Black Lung payments.  

If you, your spouse or your dependent children become disabled, the dollar amount that you can receive will be based on the total amount that was paid into the public funds previously. After two years of receiving payments, SSDI recipients become eligible for all the different types of Medicare. Unemployed adults may qualify based on a spouse's income and children qualify based on their parent's employment records, but in general people need to be disabled for at least a year in order to become eligible for SSDI. 

In conclusion, social security payments have contributed to a better quality of life for injured, disabled and ill people and their families for many years. However, the process itself is often time-consuming and working with social security disability lawyers can make everything less stressful. For more information, check out sites like http://asmlegal.net/.