If you qualify for the Supplemental Security Income (SSI) program, you should keep an eye on your bank account. A new direct SSI payment will arrive at the end of this month. Millions of SSI recipients will receive a second Social Security payment in May. This is because the Social Security Administration (SSA) rescheduled the regular SSI payment from June 1st to May 31st, as June 1st falls on a Saturday.
What is SSI?
The Supplemental Security Income (SSI) program is managed by the Social Security Administration (SSA). It is a government program designed to help people with financial and disability needs. However, many SSI recipients don’t know that their payments come from general US Treasury revenues, not from Social Security taxes paid by employees and employers.
Why a Second SSI Payment in May?
SSI payments are usually received on the 1st of each month unless it falls on a weekend or federal holiday. If that happens, the SSA sends the SSI payment on the previous working day. This means some Social Security beneficiaries might receive a double payment in certain months.
For example, this year, June, September, and December are double payment months. To stay updated, you can check the official Social Security payment schedule for 2024.
Who Qualifies for SSI?
SSI benefits apply to working people earning less than $1,971 a month. Couples applying for child support or disabled people may also qualify. To receive SSI payments, individuals must meet certain income and asset limits. For example, resource limits are about $2000 for individuals and $3000 for couples. Resources include items like cars and bank accounts.
Low-income seniors must prove they can’t find meaningful work anywhere in the economy. Incorrect applications are automatically rejected if the applicant’s income or assets exceed the eligibility requirements. To check your eligibility or start the application process, the SSA provides an SSI tool that takes five to ten minutes to complete.
Direct SSI Payment Dates
The SSA has confirmed SSI payment dates until the end of the year:
- July 1st: Monday
- August 1st: Thursday
- September: August 30th, Friday
- October 1st: Tuesday
- November 1st: Friday
- December: November 29th, Friday
SSI Payment Amounts
Eligible individuals can receive up to $943 per month, while eligible couples can receive up to $1,415 per month. If an SSI recipient lives with a significant other, they may be eligible for an additional Social Security payment of $472.
How to Qualify for SSI and SSDI
Many Americans are eligible for both SSI and Social Security Disability Insurance (SSDI) benefits. Applicants must meet the requirements for both programs to be eligible for both. It is not necessary to submit two separate applications. T
he maximum SSI payment for an individual or couple cannot be satisfied by the sum of two payments. Understanding both programs and their eligibility requirements will improve your chances of submitting an accurate application for the most appropriate Social Security benefit.
Understanding the SSI program and its payment schedule is crucial for recipients. By knowing the income and asset limits, as well as the eligibility requirements, you can ensure that you receive the benefits you are entitled to.
Keep track of the payment dates and amounts to manage your finances better. If you have any questions or need to check your eligibility, use the tools provided by the SSA. Stay informed to make the most of the benefits available to you.
1. Why is there a second SSI payment in May?
The second SSI payment in May is because the regular SSI payment for June 1st was rescheduled to May 31st, as June 1st falls on a Saturday.
2. What are the income and asset limits for SSI?
The resource limits are about $2000 for individuals and $3000 for couples. Resources include items like cars and bank accounts.
3. How can I check my eligibility for SSI?
You can use the SSI tool provided by the SSA, which takes five to ten minutes to complete.
4. What are the payment amounts for SSI?
Eligible individuals can receive up to $943 per month, while eligible couples can receive up to $1,415 per month. There is an additional payment of $472 for those living with a significant other.
5. Can I qualify for both SSI and SSDI?
Yes, many Americans qualify for both SSI and SSDI. Applicants must meet the requirements for both programs.