The new year brings with it new figures to be aware of with regard to SSI and SSDI. As was broadcasted on this website back in October, SSI and SSDI recipients’ benefit amounts have seen a 2% COLA increase. This change means that the maximum amount of SSI an individual can now receive each month has increased to $750; an eligible couple can now receive up to $1,125 a month.
There have also been notable changes in the figures for SSI and SSDI work incentives. The new 2018 figures are listed below:
Student Earned Income Exclusion (SEIE): $1,820 a month, and up to $7,350 annually.
Trial Work Period (TWP) level: $850
Substantial Gainful Activity (SGA): $1,180 (non-blind); and $1,970 (blind)
For a full list of all the changes please click here.
Once again there has been no increase in the resource limit for SSI beneficiaries as those remain at $2000 for an individual and $3000 for an eligible couple. Do note that beneficiaries may be eligible to establish an ABLE account which allows them to save significantly greater resources under some conditions. For further reading please see our previous blog post on ABLE accounts by clicking here.