Exciting news for SSI recipients! In less than 24 hours, eligible individuals will receive their new SSI payments. These payments can be up to $943 for single recipients and $1,415 for couples. Additionally, those who qualify under the “essential person” category will get an extra $472 in their monthly checks.
What is SSI?
SSI stands for Supplemental Security Income. It is a benefit provided by the Social Security Administration (SSA) to help low-income individuals, including those with disabilities, retirees over 65, and survivors of deceased claimants. Unlike other Social Security benefits that require contributions, SSI does not need recipients to have paid into the Social Security system.
How to Apply for SSI
To apply for SSI, you must meet strict medical requirements. This includes having a severe physical or mental impairment that will last at least 12 months or lead to death. Applicants must also prove they cannot perform meaningful work anywhere in the economy.
Changes in SSI Payment Rules
Starting September 30, a new rule will change how SSI payments are calculated. The SSA will no longer consider food when determining eligibility for In-Kind Support and Maintenance (ISM) benefits. This means that receiving groceries or meals from friends or family won’t reduce your monthly benefits.
Maximum SSI Payments for 2024
For 2024, the maximum SSI payment is $943 for individuals and $1,415 for couples. To qualify, you must earn less than $1,971 per month and have fewer than $2,000 (individuals) or $3,000 (couples) in total resources.
Benefits of the New Rule
According to Darcy Milburn, director of Social Security and health care policy at The Arc, the new rule will prevent SSI recipients’ benefits from being reduced due to meals provided by friends or relatives. This change simplifies the process and helps ensure that recipients receive their full benefits.
Future Enhancements for SSI
The SSA is planning more improvements for SSI applicants and beneficiaries. This new rule is just the first step in making the system better for everyone involved.
SSI Payment Schedule for 2024
Here’s the full-year schedule for SSI payments in 2024:
- May: Wednesday, 1st
- June: Friday, 31st of May
- July: Monday, 1st
- August: Thursday, 1st
- September: Friday, 30th of August
- October: Tuesday, 1st
- November: Friday, 1st
- December: Friday, 29th of November
Possible Changes to Asset Limits
Congress is considering a bipartisan measure to increase asset limits for SSI recipients. This could raise the limit from $2,000 to $10,000 for individuals and from $3,000 to $20,000 for couples. These changes aim to make it easier for recipients to save money without losing their benefits.
These updates and changes to SSI are designed to make life easier for recipients. By simplifying the rules and increasing asset limits, the SSA is working to ensure that more people can get the help they need without unnecessary complications. Stay informed and check for further updates to make the most of your benefits.
1. What is the maximum SSI payment for individuals in 2024?
The maximum SSI payment for individuals in 2024 is $943.
2. How often are SSI payments made?
SSI payments are made monthly.
3. What are the new asset limits being considered by Congress?
Congress is considering raising the asset limits to $10,000 for individuals and $20,000 for couples.
4. When will the new ISM rule take effect?
The new ISM rule will take effect on September 30.
5. Who can qualify for the extra $472 payment?
Individuals who qualify under the “essential person” category can receive an extra $472 in their monthly SSI payment.