Senate Bill Proposes Changes to SSI Program

The Supplemental Security Income Restoration Act of 2014 was introduced recently in the U.S. Senate by Senators Sherrod Brown (D-OH) and Elizabeth Warren (D-MA). This legislation would update rules such as one that recognizes the value of past work by disregarding the first $20 of Social Security Retirement or other monthly income when determining SSI eligibility, a rule that hasn’t been updated in more than 40 years.  The SSI Restoration Act will increase the disregard to $110 to account for inflation.  The bill also increases the amount of resources an SSI recipient can retain from $2,000 to $10,000.  The bill also eliminates the provision that reduces the monthly benefit whenever someone receives food or housing for less than fair market value from another person, including family members.

SSI provides subsistence-level income to two million older adults with very limited financial resources who are either age 65 or over or cannot perform substantial work because of a severe disability. More than two thirds of older adults receiving SSI payments are women and one out of every three applying for the program has a primary language other than English.

Increase In Social Security Disability Benefits For 2014

Social Security Administration (SSA) has announced a cost of living adjustment of 1.5% for 2014.  As a result, monthly benefits for Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) beneficiaries will rise next year.

With the increase, the maximum federal benefit for an individual receiving SSI will rise from $710 per month to $721. The benefit for a couple on SSI will grow from $1,066 per month to $1,082. Many states add to SSI benefits for their residents meaning that actual payments could exceed these caps.  Massachusetts is one of the States that adds a supplemental benefit.