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That’s A Good Question!

QUESTION: What is the difference between social security disability insurance (SSDI) & supplemental security income (SSI)? ANSWER: • Both - Need to be found disabled by the Disability Determination Bureau • SSDI – Need to have worked and earned work credits to be insured (number of credits needed depends on the age you became disable. If you are disabled at age 50, you need 28 work credits, or to have worked 7 years (and at least 5 of those years must be within the last 10 years). You can earn up to four work credits per year

• SSI – Nothing to do with work history, strictly based on your assets & income

• SSI – Automatically receives Medicaid

• SSDI – Eligible for Medicare (regardless of age) after your 24th payment

• SSI – Monthly maximum Federal amount for an individual is $771 and eligible couple is $1157 plus State Supplement of $83.78 for individual and $132.05 for a couple

• SSDI – Based on your earnings while you were working


QUESTION: When does my Power of Attorney for Finances become effective?


ANSWER: The Power of Attorney for Finances is not a “springing” document as the Power of Attorney for Healthcare is which means it becomes effective immediate upon completion when notarized unless noted otherwise. Often people will elect to include a statement in the special directions that identifies they do not want their Power of Attorney for Finances to go into effect until they are deemed incapacitated and their Power of Attorney for Healthcare is activated.

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