SSI is the Supplemental Security Income. The aim of this program is to give financial support to people in disadvantaged positions. Getting extra money every month can be a relief for about 5 million beneficiaries in the United States.
There are different ways to qualify for SSI benefits. However, all of them have something in common. They must have a low income or they will not be eligible. While some get it because of their age, others may qualify for a disability or for being blind.
What is more, if your situation changes, you need to report it because you may no longer qualify for SSI. For example, if you get married and your income is not low anymore.
WHEN WILL THE NEXT SSI PAYMENT ARRIVE?
If you are eligible, you will receive the next SSI payment on December 29, 2023. This could be shocking if you have always received your payments on the first day of the month.
The Social Security Administration never pays SSI on a holiday. It is just the same for paydays on the weekend. Instead, SSA prefers to send the money in advance.
Remember that people receiving SSI have a low income. A delay in receiving their monthly check could mean not having money to buy food, pay bills, or pay a loan or mortgage.
Therefore, it will be possible for Supplemental Security Income beneficiaries to get their January payment on December 29, 2023. What is more, recipients will take advantage of getting the 2024 COLA increase before anyone does.
HOW MUCH CAN I GET ON DECEMBER 29 FOR MY SUPPLEMENTAL SECURITY INCOME CHECK?
After the 3.2% increase, a payment worth $914 will turn into $943. These are the maximum SSI amounts in both 2023 and 2024. If you are not single, the amounts may be higher.
Married couples receiving SSI can get up to $1,415 in 2024, up from $1,371. The thing is not everyone qualifies for the largest checks. This is because they have other earnings.
For example, some SSI beneficiaries can also get retirement and disability benefits (SSDI). Therefore, they cannot get the same amount as a person who has no money in their bank accounts and not other payments. Essential persons can also receive SSI payments.
Their amounts are $472 in 2024, up from $458. Apply for Food Stamps (SNAP) if you have not received them yet. They can also be a supplement to your income. What is more, it may have other perks like having affordable Internet access or free tickets in some museums.