Supplemental Security Income - SSI

AAA

DEFINITION of 'Supplemental Security Income - SSI'

A federal program that provides additional income for older and disabled people with little to no income stream. This program helps the participants meet their basic needs by providing them with monthly cash distributions. The program is funded by tax revenues received by the government.

INVESTOPEDIA EXPLAINS 'Supplemental Security Income - SSI'

This type of program is a type of safety net for citizens of the U.S. who cannot meet their basic financial needs because of their age or a disability. Payments for the program are made on the first day of the month and can also include food stamps and Medicaid benefits.

To learn more about SSI, read What's the difference between Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI)?

RELATED TERMS
  1. Social Security Number - SSN

    A nine-digit number assigned to citizens, some temporary residents ...
  2. Medicare

    A U.S. federal health program that subsidizes people who meet ...
  3. Social Security

    A United States federal program of social insurance and benefits ...
  4. Pension Plan

    A type of retirement plan, usually tax exempt, wherein an employer ...
  5. Medicaid

    A joint federal and state program that helps low-income individuals ...
  6. Federal Insurance Contributions ...

    A U.S. law requiring a deduction from paychecks and income that ...
Related Articles
  1. Budgeting

    Managing Income During Retirement

    Learn some sensible strategies for making your hard-earned savings last for as long as you need them.
  2. Retirement

    Will Your Retirement Income Be Enough?

    Find out how to determine whether you're on the path to a comfortable retirement, or financial ruin.
  3. Insurance

    Medicaid Vs. Long-Term Care Insurance

    These are not equal. Here's why you need to think twice before relying on the government-sponsored program.
  4. Insurance

    How to Use a Waiver of Subrogation

    A waiver of subrogation means that a party to a contract waives the right to allow someone (usually an insurance company) to sue the other party to the contract in case of a loss.
  5. Retirement

    Is my grandchild eligible for Social Security benefits?

    If you’re caring for a family member, they may be entitled to a portion of your Social Security benefits. Rob Kron explains the eligibility requirements
  6. Retirement

    What is an equity-indexed annuity?

    Understand what an equity-indexed annuity is, its advantages and disadvantages, and how it differs from other annuity investments.
  7. Professionals

    Social Security: To Delay Or Not To Delay?

    Should you delay taking your Social Security benefits? As with most things in the financial planning world the answer is: 'it depends.'
  8. Retirement

    How do Survivor Benefits Work?

    With nearly 5 million windows and widowers receiving monthly benefits from their deceased spouse’s earnings, survivor benefits represent a powerful component of the Social Security program. Rob ...
  9. Professionals

    How Social Security Will Change In 2015

    The average retiree’s check will rise by 1.7% in 2015, the Social Security Administration says. And the ceiling on taxable earnings will rise, as well.
  10. Insurance

    What are some examples of unexpected exclusions in a home insurance policy?

    Learn about commonly excluded perils with different standard insurance policies. Explore events that homeowners should consider when purchasing insurance.

You May Also Like

Hot Definitions
  1. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  2. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  3. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  4. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  5. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  6. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
Trading Center