Supplemental Security Income (SSI) beneficiaries are going to receive a new monthly payment in less than 48 hours. November 1, 2023, is the date the Social Security Administration will start sending checks.
Thanks to the 2023 COLA increase, these payments can be up to $914, up from $841. In fact, there is a big difference between SSI maximum amounts in 2022 and 2023.
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What is more, it will not be until December 29, 2023, when the new 2024 COLA boost arrives for SSI beneficiaries. Keep in mind that these maximum amounts are for individuals that qualify for the largest check in 2023.
WHAT IS THE MAXIMUM AMOUNT FOR ELIGIBLE COUPLES ON SSI ON THE NOVEMBER 1 PAYMENT?
If you are eligible for SSI and your spouse too, you can cash up to $1,371 with the 2023 COLA increase. From December 29, Supplemental Security Income payments will reach up to $1,415 for couples.
So far, you can see that individuals and couples who qualify have different amounts. What is more, there are also essential persons who qualify for SSI payments.
There monthly maximum amounts are much lower. As a matter of fact, they can collect payments of up to $458 thanks to the 2023 COLA. In 2024, they will earn up to $472.
Do not forget that maximum amounts could be misleading. Not everyone gets so much money. So, it is best to know the average payment in the previous months to have a better idea of reality. SSA said that as of September 2023, the average SSI check for 18-64 recipients is just $718.87.
WHO QUALIFIES FOR THE SSI PAYMENT ON NOVEMBER 1?
Only those citizens who have filed and got the Social Security approval can receive Supplemental Security Income payments. To be eligible you must have very little or no money.
To qualify for Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI), you must meet @SocialSecurity’s definition of disability.
Understand disability and know how to apply for financial help: https://t.co/Ta9iX76g4U pic.twitter.com/BKhTOZYk83
— USAGov (@USAGov) August 26, 2023
So, you cannot have much money. Social Security will check the amount of money you receive in earnings every month. Besides, they will check your bank account to see your bank balance.
Apart from having little money and little resources, you must be 65 years old or older. People with a qualifying disability or who are blind may also be eligible for the Supplemental Security Income.
Even if you never thought about it, some dependent children with a qualifying disability may get SSI checks. Their average payment was about $797.43 last September. Residency and citizenship requirements are essential too. Once you qualify for these checks, there are many more perks. So apply now!