SSI is the Supplemental Security Income. Although it is mainly for seniors aged 65 or older, people with a disability or blind people may qualify. All of them must have a low income though. Children with a disability can also get these monthly payments.
The largest amount an SSI recipient can receive is $943 in 2024, up from $914 in 2023. So, a person who qualifies for the largest check can get 29 dollars extra per month. However, not every child on Supplemental Security Income can get this amount.
Usually, the average payment is much lower than maximum SSI amounts. It will depend on the age group you belong to as well. What is certain is the fact that there will be a 3.2% increase for all recipients.
HOW MUCH IS THE INCREASE CHILDREN ON SSI CAN GET ON AVERAGE?
As of November 2023, the average SSI payment for children under the age of 18 is $785.28. Therefore, recipients may get $810 in 2024 if they receive an average payment from the Social Security Administration.
In just one year, eligible children who get $810 per month in 2024 can get 300 dollars more. As they can get a 25-dollar boost per month, they will collect $300 in the following 12 months.
Undoubtedly, this is the best way to see how much the increase will be. If you believe the increase is too low, save that money every month and you will end up having 300 bucks by December 2024. The thing is some children may receive lower payments. Even if it is still a 3.2% increase, they will receive lower amounts than what you have just seen.
For instance, if they qualify for an SSI payment worth 500 dollars, they will just get 16 dollars extra ($516). If you are thinking about applying for SSI because your child has a qualifying disability, make an appointment as soon as possible in order to avoid delays.
WHEN WILL THE NEXT SSI PAYMENTS FOR DEPENDENTS TAKE PLACE?
If you are on Supplemental Security Income you will receive your next January check on December 29. It cannot be sent on January 1 because it is New Year and banks will not be open on that holiday.
Remember that Social Security will also arrange payments on a business day. The next SSI payday will be the same for all beneficiaries, regardless of their age, disability, or marital status. Since recipients will cash their January check in December, they will have the 2024 COLA boost before anyone else.
Other beneficiaries on retirement or disability benefits (SSDI) will have to wait until January 3, 10, 13, 20, and 27 to receive their COLA increase. If you are a married couple and you also qualify for SSI, your amount will be the highest.
Couples on SSI can receive up to $1,415, up from $1,371. Therefore they will get $44 extra per month if they are entitled to the largest SSI payment in 2024. If you do not have enough money to get food, apply for SNAP (Food Stamps) while on SSI.