Seniors over 65, people with a disability or who are blind can receive a new SSI payment on October 1, according to the Social Security Administration. The October payment will be sent to approximately 7.5 million recipients in the USA and it could increase by $131 for more than 90,000 recipients.
If you qualify for SSI and you are not 18 years old yet, October 1 will also be your payment date. Bear in mind that all recipients (adults and children) share the same payday and they can qualify for a disability, being blind or at least 65. Besides, they must have a low income and little resources.
Which seniors will receive $943 on October 1 from SSI?
This Federal program will send $943 to the Supplemental Security Income recipients who:
- get no reductions
- qualify for the full amount in 2024
- remain eligible and do not break SSA rules
However, it is more than likely that you have other earnings or money on hand. So, it will invariably reduce your payment. In fact, the average check is $698 but $575 for those aged 65 or older.
Why could SSI payments be slightly higher in October?
The Social Security Administration has made some important changes in the rules of Supplemental Security Income. Take for example the In-kind Support and Maintenance which has been removed.
Before, recipients who got food from someone regularly could get less money as a result. The definition of public assistance household has also been modified to expand SSI benefits eligibility.
So, more Americans with a low income may be eligible after this change. What is more, there will be an expansion of the SSI rental subsidy policy benefiting more recipients. Nevertheless, the 2025 COLA will not come into effect until December 31, 2024.
The latest COLA projection from the Senior Citizens League is just 2.57%. Thus, seniors aged 65 who qualify for $943 could receive a payment of about $966 in 2025 thanks to COLA. Married couples can get up to $1,415 on October 1, 2024. After the 2025 COLA increase, it could become $1,450.
