The Social Security Administration (SSA) will soon start sending checks to eligible recipients in the United States. While the first payment is scheduled for December 1, the last one is due on December 29.
Meanwhile, there will be other payments. The rest of the paydays will be December 13, 20 and 27. Remember that you can only get money from Social Security if you filed and the SSA approved your application.
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The first payday will be for two different groups of recipients. In fact, they usually receive their checks on different days. So, as usual, Supplemental Security Income beneficiaries will get their payment on December 1. Retirees who started receiving Social Security before May 1997 will get their checks on December 1.
Which Social Security beneficiaries can collect 2 payments in December?
The Administration will send 2 checks to those citizens who receive Supplemental Security Income. The first payment will be on December 1 and the second one on December 29. However, there is a good reason to send two payments during the same month and it is not because of the inflation.
The reason why SSI beneficiaries can collect two payments in December is because they will get their January payment on that day. It will not be an extra or bonus check. It is the way the Administration sends payments when the payday is a holiday.
As New Year will be a holiday and banks will not be open, it is always best to send the money a few days before the due date to avoid any kind of delays. Do not forget that many SSI beneficiaries are on a low income. Therefore, it is of vital importance that they collect their money as soon as possible.
Social Security will also include the COLA boost in the December 29 payment. So, the rest of the beneficiaries will have to wait until January to enjoy the boost. Actually, they are lucky because Americans may be running out of money after all the Christmas expenses they must have met.
How much will Social Security increase SSI benefits?
It is important to point out that the SSI payments on December 1 and December 29 will have different maximum amounts. Thanks to the 2024 COLA, there will be a 3.2% increase in benefits. As the December 29 check is for January, it will be the new boost.
A single person who is eligible for SSI will get up to $914 from Social Security in 2023. From December 29 onward, the maximum amount for those on SSI will be $943. Of course, there average SSI check is just $676, so do not expect a lot more unless you have no other income or resources.
If you and your spouse receive Supplemental Security Income, the largest check in 2024 will be $1,415, up from $1,371. If you qualify for the maximum amount you will get $2,786 in December.
Make sure you apply for SSI if you have a low Social Security benefit. Applying for SNAP benefits is another way to cash more money and buy healthy food. Women with children can also apply for WIC as they get SSI.