How Much Extra Money Can I Make On Ssdi
How Much Extra Money Can I Make On SSDI?
What is SSDI?
Social Security Disability Insurance (SSDI) is a program from the Social Security Administration (SSA) that provides financial benefits to people who have a disability that prevents them from working. To qualify for benefits, you must have worked in the past and have paid into the Social Security system by having taxes taken out of your paycheck. You must also have a disability that is expected to last for at least one year or result in death. If you meet these requirements, you may be eligible for SSDI.
How Much Can I Earn?
The amount you can earn on SSDI depends on how much you have earned in the past. The SSA looks at your average earnings over the last 5 years, and your benefit amount is based on the amount of Social Security taxes you have paid. The maximum amount you can earn on SSDI is $2,110 per month in 2020. If you make more than this amount, your benefits will be reduced or stopped.
What is the Substantial Gainful Activity Limit?
The Substantial Gainful Activity (SGA) limit is set by the SSA to determine if a person is able to work and is therefore not eligible for SSDI. The SGA limit is $1,260 per month in 2020. If you are earning more than this amount, you are considered to be engaging in substantial gainful activity and your SSDI benefits will be stopped.
What is the Trial Work Period?
The Trial Work Period (TWP) is a period of up to nine months when you can test your ability to work while still receiving SSDI benefits. During this period, you can earn an unlimited amount of money and still collect SSDI. However, after the nine-month period is over, you must report any earnings to the SSA in order for them to determine if you are engaging in Substantial Gainful Activity and can no longer receive SSDI benefits.
What is the Expedited Reinstatement (EXR) Program?
If your benefits are stopped due to earning too much money, you may be eligible for the Expedited Reinstatement (EXR) Program. This program allows you to get your benefits reinstated quickly if you stop working or reduce your earnings. You must have worked for at least nine months in the last five years and have been earning more than the SGA limit to qualify for EXR.
Conclusion
Earning extra money while receiving SSDI benefits can be complicated. It is important to understand the rules and limits set by the SSA in order to ensure that you are not over-earning and risking the loss of your benefits. The Trial Work Period and the Expedited Reinstatement Program are two options that can help you keep your benefits when earning extra money. Knowing the rules and limits can help you make the most of your SSDI benefits.
