Over 7.5 million Americans receive SSI (Supplemental Security Income) payments. Needless to say, these recipients are looking forward to getting the Social Security 2025 COLA increase. But when will they get receive the new boost?
According to the Social Security Administration (SSA), SSI recipients will be the first Americans on this Federal benefit to take advantage of the cost-of-living adjustment increase.
Which SSI recipients will receive $288 extra per year after COLA in 2025?
The SSI individuals who qualify for the maximum amount in 2024 and continue their eligibility in 2025 will get a total of $288 per year. So, how much extra will the 2.5% provide Supplemental Security Income individuals?
As a matter of fact, SSI recipients will get only up to 23 dollars extra per month. So, that is why 12 times 23 make $288 per year. For your information, there are also other recipients of this Federal benefit. For example, Supplemental Security Income can give money to eligible married couples and essential persons.
Check the maximum amounts in 2024 and after the 2025 COLA increase:
- individual: $943 in 2024 or approximately $967 with a 2.5% COLA increase
- eligible married couples: $1,415 in 2024 or approximately $1,450 with a 2.5% increase
- essential persons: $472 in 2024 or approximately $483 with the 2.5% boost
How much money per year will get married couples on SSI after COLA?
While an individual receiving Supplemental Security Income can receive up to $288 extra per year, married couples can get a lot more. Of course, they have an additional person in their household receiving this benefit.
In just one year, eligible married couples on Supplemental Security Income will get up to $420 in 12 months. Keep in mind that each payment will include 35 dollars extra with respect to the maximum amount in 2024.
To get SSI payments, recipients must have a low income first. Then, they must be at least 65 years old, or have a disability, or be blind. If you do not meet these key requirements, you cannot continue receiving these monthly payments or you will not be eligible if you have not applied yet.