How Much Social Security Will I Receive?

If you have a disability that has caused you to be unable to work, you may be considering the possibility of filing for Social Security disability benefits. If you find yourself in this situation, you may wonder whether you’re eligible and, if so, how much you might receive. These are understandable questions to ask. After all, being disabled and unable to work can be very difficult from a financial perspective. Let’s take a closer look at how the Social Security Administration calculates benefits and what your estimated amount might be.

A Look At Different Types Of Social Security Disability Benefits

Prior to determining how much you might receive in benefits it is essential to understand which type of benefit you might receive. The SSA offers two primary types of disability benefits to qualifying individuals. These include Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) benefits.

In order to receive either type of benefit, an individual must meet the following conditions:

1. Having a qualifying medical condition: To determine whether a condition qualifies for the receipt of disability benefits, the SSA will review medical records pertaining to the condition, including its symptoms and disabling effects. In doing this, the SSA will often consult its listing of impairments, which is more commonly known as the “Blue Book.” The Blue Book is a guide containing various conditions and their accompanying symptoms.
2. The condition has rendered the individual disabled for at least one continuous calendar year or more: In some cases, an individual may have a fairly severe medical condition, but it may resolve on a faster timeline than expected. These conditions may be temporarily disabling, but only for the short term. In order to qualify for Social Security disability benefits, however, the condition must be a long-term condition that lasts at least one continuous calendar year or more.

While these two conditions are required for either type of benefit, the benefits also have some differences. To be approved for SSDI benefits, an individual must be “insured.” This means that they worked a qualifying job for a sufficient length of time through which they regularly paid a portion of their salary in taxes into the Social Security system.

By contrast, an individual need not be insured to receive SSI benefits. Instead, they must have income and resources below a certain threshold established by the SSA. That limit may change yearly, so it is essential to consult with an attorney regarding your eligibility.

You may qualify for one or both types of benefits depending on your circumstances. Let’s take a closer look at how these benefits are calculated and how much you might receive.

How Are Social Security Disability Benefits Calculated?

First and foremost, it’s important to understand that when the SSA calculates benefit amounts, the benefit amount does not depend upon the particular condition itself, other than for very few exceptions, such as blindness. In general, however, benefits are calculated based on a variety of factors. These factors may include work history, earning history, overall income and resource level, and a variety of other conditions depending upon your circumstances.

And so far as SSDI benefits are concerned, as a general rule, benefits are based on how much an individual earned over the course of their employment history, and how much they paid into the Social Security system. Understandably, then, those who made higher salaries and worked for a longer amount of time will generally receive a higher benefit payment than those who didn’t. There are maximum limits on SSDI benefits, however. These can change from year to year. In 2024, the maximum monthly amount of SSDI that an individual can receive is $3,822.

Unlike SSDI benefits, SSI benefits are not calculated based on salary or work history. Instead, they are calculated based on an individual’s financial circumstances. Because these benefits are intended for individuals with lower income and resources, as a general rule of thumb, the fewer resources you have, the higher the payment you are likely to receive up to a certain limit. Again, these limits are established by the SSA and may change yearly. In 2024, the maximum monthly SSI payment is $943 for an individual and $1,415 for a couple.

Call Sackett Law Today

Sometimes, when you are struggling with a disability, you can feel overwhelmed and alone. That’s normal. But the good news is, you don’t have to feel that way anymore. At Sackett Law, we are here for you, and we’re ready to help. Our talented and experienced legal team knows and understands every aspect of the law pertaining to disability benefits. We’re ready to put that knowledge to work for you to help you fight for the benefits you need and deserve. There’s no day like today to take the first step. Give us a call. We look forward to speaking with you soon.