The second half of the year has brought good news for Supplemental Security Income (SSI) recipients. The Social Security Administration (SSA) has announced three important changes that will allow claimants to receive more money.
These changes include the annual increase due to inflation and a new policy by the SSA. If you are eligible for SSI benefits or are looking to apply, here is how you can earn more money from the Supplemental Security Income program.
Understanding Supplemental Security Income (SSI)
What is SSI?
The Social Security Administration manages the Supplemental Security Income (SSI) program, which provides financial assistance and disability benefits to eligible individuals. Many people don’t realize that their SSI payments come from regular US Treasury funds, not Social Security taxes.
Who Qualifies for SSI?
The primary goal of SSI is to help working individuals who earn less than $1,971 per month. Couples seeking child support or disabled individuals may also qualify. According to the SSA, applicants must meet specific income and resource criteria. The resource limits are approximately $2,000 for individuals and $3,000 for couples, which include assets like automobiles and bank accounts.
How to Apply for SSI
If you want to see if you qualify or start the application process, the SSA offers an online tool to help. The entire application process should take between five and ten minutes.
Three Changes to Help You Get Extra SSI Money
1. Increased SSI Payment Standards
The Social Security Administration has increased the SSI Federal payment standard to $943 per month this year, up from $914 in 2023. This amount could increase further next year depending on the cost of living adjustment (COLA) announced in October.
Different SSI payment amounts depend on the filing category chosen when submitting documentation. On average, SSI recipients receive $698 per month, with individuals and couples eligible for monthly checks of up to $943 and $1,415, respectively.
2. Reduced Barriers for SSI Benefits
The SSA aims to reduce barriers and increase the number of potential candidates for SSI benefits. In a recent news release, the SSA identified 114 occupations in each of the nine U.S. Census divisions that are found in “extremely limited numbers.”
As a result, the SSA will not use these occupations to support a “not disabled” finding at the final stage of disability determinations. This change should result in fewer disabled applicants being turned down for SSI payments.
3. New COLA for 2025
The Senior Citizens League (TSCL) has revised forecasts for the cost of living adjustment (COLA) for 2025, predicting a range from 2.6% to 3%. Although this is lower than the 3.2% target for 2024, the increase is still significant. If the COLA for next year is set at 3%, SSI recipients could be eligible for higher payments:
- On average: $698 to $719
- Individuals: $943 to $971
- Couples: $1,415 to $1,457
- Essential person: $472 to $486
These changes by the Social Security Administration will help SSI recipients receive more financial assistance. By increasing payment standards, reducing barriers, and adjusting for the cost of living, the SSA is working to provide better support for those in need. If you qualify for SSI or are considering applying, these updates could significantly impact your benefits.
1. What is Supplemental Security Income (SSI)?
Supplemental Security Income (SSI) is a program managed by the Social Security Administration (SSA) that provides financial assistance to eligible individuals, including those with disabilities. The payments come from regular US Treasury funds, not Social Security taxes.
2. Who is eligible for SSI benefits?
To be eligible for SSI benefits, individuals must meet specific income and resource criteria. Generally, working individuals earning less than $1,971 per month, couples seeking child support, or disabled individuals may qualify. Resource limits are set at $2,000 for individuals and $3,000 for couples.
3. How do I apply for SSI benefits?
You can apply for SSI benefits through the Social Security Administration’s online tool. The application process is straightforward and takes between five and ten minutes. You will need to provide information about your income, resources, and personal details.
4. What are the recent changes to SSI payments?
The Social Security Administration has announced three key changes for SSI payments:
Increased Payment Standards: The SSI Federal payment standard has been raised to $943 per month.
Reduced Barriers for SSI Benefits: Certain occupations in low demand will no longer be used to deny disability applications.
New Cost of Living Adjustment (COLA) for 2025: The COLA is predicted to be between 2.6% and 3%, affecting SSI payments.
5. How will the new COLA for 2025 affect my SSI benefits?
If the COLA for 2025 is set at 3%, SSI recipients could see an increase in their payments. On average, monthly payments could increase from $698 to $719. Individuals could receive up to $971, couples up to $1,457, and essential persons up to $486.