What is SSI?
SSI, or Supplemental Security Income, is a federal program that provides monthly cash payments to people who are aged (65 or older), as well as for blind or disabled people of any age, including children. To qualify, an applicant must have little or no income and few resources.
2015 Cost-of-Living Increase
The maximum Federal SSI benefit amounts increase with the cost-of-living increases that apply each year to Social Security benefits. The latest such increase, 1.7%, becomes effective in January 2015.
SSI Federal Benefit Amounts for 2015
The monthly maximum Federal benefit amounts for 2015 are $733 for an eligible individual, and $1,100 for an eligible individual with an eligible spouse.
New Jersey State Supplement
The State of New Jersey supplements the federal benefit amount with additional money. The payment received by SSI recipients each month includes both the federal SSI payment and the supplement from New Jersey. In 2015, the New Jersey state supplement for an eligible individual is $31.25, and for an eligible individual with an eligible spouse the supplement is $25.36.
Medicaid
Medicaid is a health care program for individuals with little or no income and few assets. In New Jersey, applicants found to be eligible for SSI benefits are automatically are eligible for Medicaid.
For additional information concerning Medicaid and public benefits planning, visit:
https://vanarellilaw.com/medicaid-public-benefits-planning/