SSI beneficiaries can get checks of up to $943 if they are single and $1,415 if they are married. Essential persons can collect Supplemental Security Income payments of up to $472, but what if there is a 2.6% COLA boost in 2025?
According to The Seniors Citizen League, there could be a 2.66% COLA in 2025. Undoubtedly, this is just a prediction and there are many months ahead to know what is going to happen with inflation. Having an idea of what payment amounts could be like may be intriguing though.
HOW MUCH WILL THE SSI PAYMENTS BE WITH A 2.6% COLA INCREASE FROM SSA?
If you are an eligible married couple and you get the maximum SSI in 2024, you could receive about $1,452 in 2025. It is a 37-dollar boost per month which is $444 extra per year.
Single recipients who qualify for the largest Supplemental Security Income benefit in 2024 could receive $967 in 2025. In this case, single beneficiaries will get $24 extra monthly and about $288 more per year.
Essential persons can receive up to $472 in 2024. If there were a 2.6% COLA boost, they could get up to $484. As you can see, the lower your SSI payment is, the lower the increase seems to be.
POSSIBLE COLA INCREASE FOR AVERAGE SSI PAYMENTS
Currently, the average Supplemental Security Income payment is $698. Therefore, if you add a 2.6% COLA, you could get 716 dollars per month in 2025. The under 18 who get SSI receive an average payment worth $815.
Hence, their COLA boost would mean getting $836. Recipients aged 18-64 now get $743 on average, which would be about $762 in 2025 after a possible 2.6% COLA boost.
Last but not least, 65-year-olds and older seniors who get now $574 on average could receive $598. A 24-dollar increase may not seem to much, but it could be worse to get a cut. For example, SNAP benefits in Hawaii were reduced after the 2024 COLA. So, a boost is much better than nothing.