How Much Can You Make While Collecting Social Security Disability?
Collecting Social Security Disability (SSD) can be a critical financial lifeline for individuals who are unable to work due to a disabling condition. However, many people have questions about how much they can earn while receiving SSD benefits. Understanding the income limits and how they affect your benefits is essential for making informed decisions about your financial future.
Understanding SSD Benefits
Social Security Disability Insurance (SSDI) provides monthly benefits to individuals who have worked and paid into the Social Security system for a certain number of years. To qualify for SSDI, you must have a medical condition that meets the Social Security Administration’s (SSA) definition of disability and is expected to last at least one year or result in death. The amount of SSDI benefits you receive is based on your average lifetime earnings.
Earnings Limits for SSDI Beneficiaries
Once you begin receiving SSDI benefits, there are limits to how much you can earn. For the year 2023, the limit is $1,350 per month. If you earn more than this amount, your SSDI benefits may be reduced or suspended. However, there is a nine-month trial work period where you can earn as much as you want without affecting your benefits.
Substantial Gainful Activity (SGA)
The SSA defines “substantial gainful activity” (SGA) as work that earns more than a certain amount per month. For 2023, the SGA limit is $1,910 per month for individuals who are not blind and $2,880 per month for individuals who are blind. If you earn more than the SGA limit, you may no longer be eligible for SSDI benefits.
Understanding the Income Limits for SSDI Beneficiaries
It’s important to note that SSDI benefits are not affected by other income sources, such as unemployment benefits, worker’s compensation, or Social Security retirement benefits. However, if you are working and earning income, your SSDI benefits may be affected. The SSA uses a formula to determine how much of your SSDI benefits will be withheld based on your earnings.
Seeking Professional Advice
Navigating the complex rules and regulations surrounding SSDI benefits can be challenging. It’s advisable to consult with a Social Security attorney or financial advisor to understand the specific income limits and how they may impact your benefits. They can help you make informed decisions about your financial future and ensure that you are maximizing your SSDI benefits.
Conclusion
Understanding how much you can make while collecting Social Security Disability is crucial for managing your finances and ensuring that you receive the full benefits you are entitled to. By familiarizing yourself with the income limits and seeking professional advice when needed, you can make the most of your SSDI benefits and secure your financial well-being.
