December will be a fantastic month for millions of Americans collecting SSI (Supplemental Security Income). The reason why they can be so happy is because they will receive two checks in the same month.
If you are on SSI or you know someone who is receiving these payments, you may know that they have a low income. That is why it is so important they cash their money as soon as possible.
Christmas is usually a time when people spend a lot more than they often do. So, you may run out of cash sooner than expected. The dates and possible amounts also bring some good news.
When will Social Security send the 2 SSI payments in December?
The first SSI payment will reach your bank account on December 1. Therefore, you will have your Supplemental Security Income payment on the very first day of the month.
The thing is this will not be the last check in December. Social Security has scheduled another Supplemental Security Income payment on December 29. However, this is not a bonus or extra payment.
Still, it will be advantageous to collect it on that day because you may have spent too much money by then. The reason why you will receive this payment is simple.
The Administration never sends checks on a holiday. For your information, the SSI payment in 2024 was due on January 1, but New Year is a holiday. So, SSA has decided to send it on a business day. Therefore, it is simply an advanced payment.
Amounts of the SSI checks in December
Usually, you receive the same amount of money for your SSI. Nevertheless, once a year there is a change and benefits increase due to the Cost of Living Adjustment.
That will be the case with the January payment on December 29. While the largest check in 2023 for Supplemental Security Income is just $914 for one person, it will be a little higher on the second payday next month.
The new maximum amount for SSI will be $943 for a single beneficiary. If you are an essential person your check is now worth up to $458. On December 29 it will become $472.
Married couples on Supplemental Security Income who qualify for the largest check will receive up to $1,371 on December 1. On December 29 they will receive up to $1,415.
Therefore, there has been a 3.2% increase. The new COLA will give up to 29 dollars extra to single individuals. Couples may get up to 44 dollars more. On average Social Security beneficiaries receive 50 dollars. So this group of recipients gets a lot less.