The Social Security Administration (SSA) changes Supplemental Security Income (SSI) benefits from year to year, some years more than others. It is important to make sure you understand and keep updated on these changes if you are receiving SSI benefits. These changes are seldom very large, but a complete understanding of these changes will help to ensure that you take all of the necessary steps to qualify for disability benefits.
For ‘quarter of’ coverage, the earnings needed to earn one Social Security Credit changed from $1,310 to $1,350, in 2022.
Retirement earnings exempt amounts under the earnings test, the under full retirement age has changed. The amount in 2022 is $19,560 per year or $1,630 per month. It should be noted that one dollar in benefits will be withheld for every $2 in earnings above the limit. For persons who have reached full retirement age, the amount has changed to $51,960 yearly. There is no limit on earnings beginning in the same month an individual hits full retirement age.
Substantial Gainful Activity or SGA has changed for non blind SSI recipients from $1,310 monthly per month in 2021 to $1,350 per month in 2022. For blind recipients the amount has changed from in $2,190 in 2021 and to $2,260 per month in 2021. During the trial work period for above SSI recipients the monthly amount has changed as well, from $940 in 2021 to $970 in 2022.
The SSI Federal Payment standard has changed from $794 for individuals and $1,191 for couples in 2021 to $841 for individuals and $1,261 for couples in 2022. Also the Student Exclusion has changed to $2,040 as a monthly limit, $8,230 as the annual limit in 2022.
As previously stated, the changes to SSI are small, but keeping track of them can be incredibly helpful in budgeting. The changes have gone into effect as of January 1, 2022.