The next installment of the Social Security Administration's Supplemental Security Income program, worth up to $914 for individual filers, will go out to millions of recipients in nine days, according to the SSA's schedule.
The payment will go out on Tuesday, Aug. 1, and marks the first payment for recipients since June, as there were no payments in July. It will be the only payment in August.
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Recipients usually just get one payment each month, but there are four months in which two payments are delivered in the same month this year: March, June, September, and December. This is because the first of the month falls on a weekend in April, July, and October this year and Jan. 1 is always a holiday. The adjusted schedule ensures that beneficiaries still get 12 checks per year.
The maximum amount of money that beneficiaries receive varies, depending on how they file for the benefits. Individual filers receive a maximum of $914 every month, and eligible couples receive up to $1,371.
People who file as essential persons, which are those who live with people receiving SSI payments and provide them with necessary care, get a monthly payment of up to $458, according to the SSA. Not every recipient receives the maximum payout.
To qualify for the SSI payments, a person has to be over 65 and meet specific financial requirements, or be at least partially blind, or have a "physical or mental condition(s) that very seriously limits their daily activities for a period of 12 months or more or may be expected to result in death."
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These payments are separate from normal Social Security benefits that go out to retirees but are given in addition to the retirement payments for those who qualify for both.
SSI payments were first issued by the SSA in January 1974, and payment rates have increased for cost-of-living adjustments since 1975, according to the agency. The cost-of-living adjustment for 2024, however, is currently expected to be an approximately 3% increase based on June's numbers.
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Social Security update: Direct cash payment worth $914 arrives in nine days - Washington Examiner
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