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. Cost Of Living Adjustment - COLA

    An adjustment made to Social Security and supplemental security ...
  5. Pension Plan

    A type of retirement plan, usually tax exempt, wherein an employer ...
  6. Old Age, Survivors And Disability ...

    The official name for Social Security in the United States. The ...
RELATED FAQS
  1. What is the difference between moral hazard and adverse selection?

    Adverse selection occurs when there's a lack of symmetric information prior to a deal between a buyer and a seller, whereas ... Read Full Answer >>
  2. What is the theory of asymmetric information in economics?

    The theory of asymmetric information was developed in the 1970s and 1980s as a plausible explanation for common phenomena ... Read Full Answer >>
  3. Can I stop working to decrease my Substantial Gainful Activity (SGA)?

    In theory, the threshold for receiving Social Security Disability Insurance (SSDI) is the inability to perform meaningful ... Read Full Answer >>
  4. What is the difference between the loss ratio and combined ratio?

    The loss ratio and combined ratio are two ratios used to measure the profitability of an insurance company. The loss ratio ... Read Full Answer >>
  5. How do I calculate the combined ratio?

    The combined ratio is a quick and simple way to measure the profitability and financial health of an insurance company. The ... Read Full Answer >>
  6. What does the lapse ratio in the insurance sector measure?

    The lapse ratio measures the amount of insurance policy renewals with respect to the total number of insurance policies at ... Read Full Answer >>
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. Taxes

    Are Taxes the Solution for Income Inequality?

    Income inequality continues to increase. Why? And are taxes the solution?
  5. Economics

    What is Adverse Selection?

    Adverse selection occurs when one party in a transaction has more information than the other, especially in insurance and finance-related activities.
  6. Retirement

    Some Tax Considerations For Your Retirement Income

    Even if you don’t plan to retire, it’s still a good idea to think ahead about where to live, your income and how it all interacts with Social Security.
  7. Professionals

    The Risk of Offering Social Security Advice

    Savvy financial advisers will either need to gain Social Security advice expertise or find a source or partner to provide this vital service to clients.
  8. Investing

    Are You An Investor Seeking For More Income?

    For income-seeking investors, it's hard to turn down a double-digit dividend yield like that of Prospect Capital Corporation .
  9. Retirement

    Will My Pension Impact My Social Security Benefits?

    So you're eligible for a pension, and you're eligible for social security. And the question is, will that pension impact your social security benefit?
  10. 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.

You May Also Like

Hot Definitions
  1. Expected Return

    The amount one would anticipate receiving on an investment that has various known or expected rates of return. For example, ...
  2. Carrying Value

    An accounting measure of value, where the value of an asset or a company is based on the figures in the company's balance ...
  3. Capital Account

    A national account that shows the net change in asset ownership for a nation. The capital account is the net result of public ...
  4. Brand Equity

    The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. ...
  5. Adverse Selection

    1. The tendency of those in dangerous jobs or high risk lifestyles to get life insurance. 2. A situation where sellers have ...
Trading Center