Eligibility is key when it comes to Social Security payments. Filing is required, so only those who got their application accepted can cash the next Supplemental Security Income (SSI) payment.
Despite the fact that Social Security sends your money every month, payments do not arrive on the same day. In fact, there are five different paydays in November 2023 said SSA.
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The first payment is for SSI beneficiaries as usual. So. November 1 will be the day when recipients of the Supplemental Nutrition Assistance Program can get up to $914.
Who qualifies for the payment from Social Security on November 1?
Only those who filed for SSI and got accepted will get their monthly payment. Bear in mind that having a low income is one of the eligibility requirements for these benefits.
Once Social Security verifies that you have a low income, they will make sure you meet all the additional conditions. For example, there are four different ways to qualify.
In order to get the November 1 payment from Social Security, SSI beneficiaries had to be 65 years old or older. If not, they had to have a qualifying disability or be blind.
Some children may be eligible for SSI benefits too. In this case, they must have a disability that can be “medically determinable” said SSA. Once you qualify, you receive payments of up to $914.
Is the new Social Security COLA boost ready on November 1?
In general, Social Security does not pay as much as that because you may have other earnings that reduce the maximum amount. As for the 2024 COLA increase, it will not be ready on the November 1 payment.
However, the Social Security Administration will have to send the 2024 COLA on December 29 to those on SSI. After the COLA boost, those on Supplemental Security Income can get up to 943 dollars.
Eligible married couples on SSI can cash up to $1,371 in 2023 and up to $1,415 in 2024. These annual increases help beneficiaries buy more things every month. Otherwise, they will continue losing buying power and they could not make ends meet.
After the November 1 payment, there will be another SSI check from Social Security, but on December 1. So, before the year comes to an end there will be 3 more payments including the one on November 1, 2023.
Help someone you know get Social Security benefits. Even if you do not have a low income, you may know someone who ignores the fact that this payment may be a way to get some financial support.