If you have been diagnosed with a physical and/or mental condition and it’s preventing you from working in any capacity, you may be wondering how much money you may be eligible for when it comes to Social Security Disability Insurance, or SSDI benefits.
My name is Kaitlin Wildoner and I’m an attorney who helps disabled clients obtain their disability benefits as quickly as possible so they can focus on getting better.
Today we’re going to answer a common question, which is how much money can I receive in SSDI benefits? The amount of money that you can receive in SSDI benefits is based on your average lifetime earnings before your disability. The Social Security Administration uses a formula to calculate your primary insurance amount (PIA), which is the amount of money you can receive every month with SSDI benefits.
The maximum SSDI benefit amount changes every year, but most SSDI beneficiaries receive less than the maximum amount. It’s important to note that if you have other sources of income, such as workers’ compensation or private disability insurance, it may affect the amount of SSDI benefits you are eligible to receive.
In some cases, you may also be eligible for Supplemental Security Income (SSI), which is a separate program that provides financial assistance to people with disabilities who also have limited income and resources. The maximum SSI benefit amount also changes every year and in 2024, the maximum monthly benefit amount is $943 dollars for an eligible individual. However, the amount of SSI benefits that you can receive does vary depending on your income and resources. This is in comparison to the amount of money that you may be eligible for in SSDI benefits, which is based on your average lifetime earnings before your disability.
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