Although some Americans have already received disability benefits in early May, other recipients will have to wait much longer to get a monthly payment. Some until the very end of the month indeed!
SSI was due on May 1, but there will be another SSI payment on May 31, 2024. This will be the June payment in advance. For your information, the Administration always sends money on business days and June 1 will be Saturday. So, it had to be re-scheduled.
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Ssdi disability benefits in may 2024
If you qualify for SSDI, there are four possibilities to get money from Social Security. Usually, there is one SSI payment per month, but there are 4 for Social Security Disability Insurance.
The first SSDI payment will be due on May 3. These disability benefits will be for those on SSI and SSDI at the same time. However, if you began collecting SSDI before May 1997, this will also be your payday.
After the May 3 payment, there will be three rounds of checks or direct deposits for those on these disability benefits. It will depend on your birthday when you can receive money from Social Security.
How does the payment schedule for SSI and SSDI differ?
The payment schedules for Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI) differ primarily in their eligibility criteria, funding sources, and the calculation of benefit amounts.
Eligibility Criteria: SSI is a needs-based program that provides benefits to low-income individuals who are disabled, blind, or elderly. Eligibility is determined by income, living arrangement, and personal resources SSDI is an entitlement program available to individuals who have paid into the Social Security system through FICA contributions. It is based on the individual’s earnings history and does not consider current income or assets.
Funding Sources: SSI benefits are funded by general tax revenues. SSDI benefits are funded by the Disability Trust Fund, which is supported by FICA contributions from employees and employers.
Calculation of Benefit Amounts: SSI benefit amounts are calculated based on the Federal Benefit Rate (FBR), from which countable income is subtracted, and state supplements (if any) are added. The FBR is adjusted annually for cost-of-living changes. SSDI benefit amounts are determined by the individual’s lifetime average earnings covered by Social Security. These amounts may be reduced if the individual receives Workers’ Compensation or public disability benefits. SSDI benefits are also adjusted annually for cost-of-living changes.
Health Insurance Coverage: SSI recipients are eligible for Medicaid immediately upon approval. SSDI recipients become eligible for Medicare 24 months after the start of their SSDI benefits.
State Supplemental Payments: Many states offer additional financial support to SSI recipients through state supplements, which vary by state. There is no state supplemental payment with the SSDI program.
Disability benefits on may 8, 15 & 22
Disability benefits on May 8 will be for you if your birthday is from 1-10 of any month. If it is from the 11th to the 20th, you will get a payment on May 15 if eligible.
May 22 will be the payment date for those who were born from 21-31. Do not forget that these checks on May 8, 15, and 22 are only if you got benefits after April 30, 1997, but not before.
As for the maximum amounts, SSDI can give recipients average payments of about $1,537. If you are lucky enough to qualify for the largest SSDI check, you could get $3,822. SSI will send average payments of just $699. The maximum SSI benefit is worth $943 for one or $1,415 for 2.