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. Social Security

    A United States federal program of social insurance and benefits ...
  3. Medicaid

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

    A U.S. law requiring a deduction from paychecks and income that ...
  5. Old Age, Survivors And Disability ...

    The official name for Social Security in the United States. The ...
  6. Cost Of Living Adjustment - COLA

    An adjustment made to Social Security and supplemental security ...
Related Articles
  1. Managing Income During Retirement
    Budgeting

    Managing Income During Retirement

  2. Will Your Retirement Income Be Enough?
    Retirement

    Will Your Retirement Income Be Enough?

  3. Medicaid Vs. Long-Term Care Insurance ...
    Insurance

    Medicaid Vs. Long-Term Care Insurance ...

  4. Overcome Your 6 Biggest Digital Banking ...
    Personal Finance

    Overcome Your 6 Biggest Digital Banking ...

comments powered by Disqus
Hot Definitions
  1. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
  2. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  3. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  4. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  5. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  6. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
Trading Center