SSI average payments continue decreasing, but this will soon change in 2024

SSI or the Supplemental Security Income program is giving less money on average than back in January 2024, check the latest amounts

SSI average payments continue going down but it could be a different story soon

SSI average payments continue going down but it could be a different story soon

Maximum SSI amounts are for a few recipients who qualify for up to $943 if single or $1,415 if married. They are usually for those citizens who have no earnings and no money on hand.

Essential persons can also receive SSI payments of up to $472. However, depending on your age group, you may have a lower or higher average payment in the United States.

New SSI average amount for all recipients

The average SSI is about $697.47 so this amount is lower than those from previous payments. Bear in mind that you may not qualify for a larger payment if you have earnings, money on hand, or food support from family, friends, or your local community.

If you are under 18 and you receive Supplemental Security Income payments, the new updated amount is $813.29. The younger you are, the higher the Supplemental Security Income payment seems to be.

The reason is simple, seniors aged 65 or older may be receiving retirement benefits simultaneously, so this payment will decrease the amount you could get from the Administration. In fact, seniors aged 65 or older receive $574 on average.

Reasons why SSI payments may increase

Apart from the next Cost of Living Adjustment, there are new rules that may help Supplemental Security Income recipients collect a higher monthly payment in the United States.

For example, the Social Security Administration will help expand access to the SSI program by providing a new definition of a public assistance household. Besides, the rental subsidy policy for Supplemental Security Income recipients will be available for more Americans.

What is more, the Administration will not count ISM as unearned income. This clearly affects the payment amount by reducing it. So, if all these measure can benefit more Americans and there will be fewer reductions, Supplemental Security Income recipients will end up getting more money per month.

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