Response to Customer Question About Personal Assets and SSDI Eligibility
We recently received this question from one of our site visitors:
First thing to understand is SSDI is an income replacement benefit for people who have worked long enough and have paid into Social Security through their FICA taxes. Personal assets have nothing to do with your eligibility for SSDI. So it’s conceivable that even Bill Gates could get SSDI benefits, but only if he also met these key qualifying factors:
· You have a medical condition that is on SSA’s qualifying list of impairments, or is a condition that meets SSA’s definition of ‘disability.’
· You have worked a total of five years, which is non-consecutive, within the last 10 years from when you became disabled.
· You have been out of work for a year or more because of a severe medical condition that has prevented you from earning above the level of substantial gainful activity (SGA).
The only “financial” requirement is that you are unable to work and earn more than $1,000 a month ($1,640 if you have a visual disability), which is the SGA amount for 2010.
Search through the Freedom Disability Web site for more information about SSDI. Also, be sure to click the links in this post to get more detail on SSA’s qualifying factors. And if you have a specific question you’d like to ask, respond to this post or any others and I’ll do my best to help you.
Learn More About Your Disability Benefits:
What is Social Security Disability Insurance (SSDI)?
SSA’s 2010 “Red Book” is a Self-Help Guide to Understanding SSA’s Disability Programs
What is (SSI) Supplemental Security Income?
SSDI or SSI Disability Benefits – What is the Difference?
Can I Get Both SSI and SSDI Benefits?- New Web Site Offers Answers and Assistance for Those Living with a Disability and Seeking Financial Support
How the Social Security Administration Will Calculate Your SSDI Cash Benefits
I worked for 42 years. I took early retirement because of heart condition. I also have diabetes. I am unable to start working at another company. Can I file for SSDI? I am 61.
Gary, You certainly can apply for SSDI especially if you are unable to work at any job because of your condition. SSDI does become your Social Security retirement benefit when you reach full retirement age. If you're interested in our help, please call for a free consultation with one of our Eligibility Consultants at 866-347-2910 so that you can make certain that you meet SSA's eligiblity requirements.