SSI is the additional insurance income. The purpose of this program is to provide financial support to disadvantaged people. Getting extra money each month can be a relief to about 5 million beneficiaries in the United States.
There are different ways to qualify for SSI Benefits. However, they all have something in common. They must have low incomes or they will not qualify. While some get it because of their age, others may qualify for a disability or be blind.
What’s more, if your situation changes, you should report it because you may no longer qualify SSI. For example, if you get married and your income is no longer low.
WHEN WILL THE NEXT SSI PAYMENT ARRIVE?
If you’re eligible, you’ll get the next one SSI payment on December 29, 2023. This may come as a shock if you’ve always received your payments on the first of the month.
The Social Security Administration never pays SSI on a holiday. The same goes for weekend pay days. Instead, the SSA prefers to send the money in advance.
Remember that people receiving SSI have low incomes. Delay in receiving them monthly check it can mean not having money to buy food, pay bills, or pay a loan or mortgage.
Therefore, it will be possible for Supplemental Security Income recipients to receive their January payment on December 29, 2023. What’s more, recipients will benefit from receiving the 2024 COLA increase before anyone else does.
HOW MUCH CAN I RECEIVE ON DECEMBER 29 FOR MY SUPPLEMENTARY INCOME CHECK?
After the 3.2% increase, paying value $914 will turn into $943. These are the maximums SSI amounts in both 2023 and 2024. If you are single, the amounts may be higher.
Getting married couples SSI it could get as much as $1,415 in 2024, up from $1,371. The thing is, not everyone qualifies for the biggest checks. This is because they have other income.
For example, some SSI beneficiaries may also receive Social Security and Disability Benefits (SSDI). Therefore, they cannot receive the same amount as a person who does not have money in their bank accounts and not other payments. Dependents can also receive SSI payments.
Their amounts are $472 in 2024, up from $458. Apply for food stamps (SNAP) if you haven’t already received them. They can also be a supplement to your income. What’s more, there may be other benefits such as affordable internet access or free tickets to some museums.