SSI is the Supplemental Security Income and it is only for low-income Americans. This payment can be for 3 groups of people. Individuals, married couples, and essential persons may qualify for these monthly checks.
Remember that if your financial situation improves, you may no longer be eligible for SSI. That is why it is of vital importance that you inform of any changes in your personal situation.
For instance, if you get married or find a new job, you may lose your Supplemental Security Income payments. If you still qualify, the Social Security Administration has announced the next payday.
WHEN WILL SSI RECIPIENTS GET THE FIRST PAYMENT WITH COLA IN 2024?
The Social Security Administration’s payment schedule revealed that Supplemental Security Income will be due on February 1, 2024. Hence, that will be the day when all recipients can collect
The thing is this will be the first Supplemental Security Income check in 2024. The January 1 payment was due on December 29. It was sent in advance to avoid delays because of the New Year holiday.
Bear in mind that the Social Security Administration never pays checks on a holiday. SSA does not send money on a weekend either. Hence, this will not be the only occasion SSI recipients get their payment in advance.
For example, your SSI will arrive on May 31 rather than on June 1. As it falls on a Saturday, you will receive it on the previous business day. Now, let’s have a look at the possible amounts.
SUPPLEMENTAL SECURITY INCOME AMOUNTS ON FEBRUARY 1
The amount you may receive will depend on your financial situation, the number of people eligible in your household, and the earnings you have. Therefore, it will depend on several factors.
Anyway, it is possible to have a look at two key figures. On the one hand, some SSI beneficiaries may be eligible for the largest check. This check is worth $943 if you are s single person.
Married couples can get up to $1,415 on February 1, 2024. Essential persons will receive the smallest payment. They can get up to $472. After the COLA boost, payments have gone up by 3.2%.
So a single person can get up to 29 dollars extra per month. A married couple can get up to 44 dollars extra per month. The average SSI check is worth $673 as of November 2023. Those who are under 18 and get these benefits may get $785 on average.