Next week, seniors who qualify for SSI benefits will get their last Social Security payment of more than $1,400. The Social Security Administration (SSA) distributes these monthly benefits to approximately 72 million retirees, survivors, disabled people, and low-income seniors who are eligible for retirement, survivors, disability insurance (RSDI), and supplemental security income (SSI).
Remember that SSI benefits also include the 3.2% boost from the cost of living adjustment (COLA) to preserve SSI recipients purchasing power.
What is SSI?
Supplemental Security Income (SSI) is a program that helps low-income seniors, disabled people, and children under special circumstances. It provides financial aid so they can cover their basic needs like food, clothing, and shelter. Without SSI, many people would struggle to make ends meet and live in poverty.
Who Gets SSI Benefits?
Nearly 5 million low-income seniors, disabled people, and children who meet special requirements receive a Social Security payment from the SSI program. This program is especially important for those who don’t have enough income or resources to live on their own.
When Will the Last Payment Be?
This month comes with a double SSI payment. All SSI recipients will get their second Social Security payment on Friday, May 31st. After this, they won’t receive another payment until July 1st. There will be another double payment in August and November, which means there will be no monthly benefits in September or December.
Upcoming SSI Payment Dates
Here are the dates for the upcoming SSI payments for this year:
- July: Monday, 1st
- August: Thursday, 1st
- August (September): Friday, 30th of August
- October: Tuesday, 1st
- November: Friday, 1st
- November (December): Friday, 29th of November
Can You Get Both SSI and Social Security Benefits?
Yes, some people can get both SSI and Social Security benefits. You can apply for both using the same form, but you might need to provide extra information. If you qualify for both, here’s when you’ll get your Social Security payments based on your birthdate:
- On the third day of the month: For beneficiaries who claimed benefits before May 1997
- On the second Wednesday: Beneficiaries born between the 1st and the 10th
- On the third Wednesday: Beneficiaries born between the 11th and the 20th
- On the fourth Wednesday: Beneficiaries born between the 21st and the 31st
How Much Can You Get from SSI?
The amount of SSI payment varies for each person, depending on their income and filing type. For example:
- An individual might get an average of $698 and a maximum of $943.
- Couples who meet the requirements might receive up to $1,415.
- Those who qualify as an essential person (EP) could get an additional $472 per month.
To be an essential person, you must meet specific requirements set by the SSA. You must have lived in the person’s house continuously since December 1973 and never qualified for SSI benefits.
SSI benefits play a crucial role in supporting low-income seniors, disabled individuals, and children. Understanding the payment schedules, qualification criteria, and potential benefits helps ensure that recipients can plan their finances effectively.
If you think you might be eligible for SSI or Social Security benefits, consider reaching out to a Social Security expert to guide you through the process.
1. What is the cost of living adjustment (COLA)?
The COLA is a percentage increase in benefits to help SSI recipients keep up with inflation and rising costs. For 2024, it’s a 3.2% boost.
2. Can children receive SSI benefits?
Yes, children under special circumstances can receive SSI benefits if they meet certain requirements.
3. How do I apply for SSI benefits?
You can apply online on the SSA website or visit your local SSA office to get help with the application.
4. What happens if my SSI application is denied?
If your application is denied, you can appeal the decision. It’s often helpful to consult with a financial advisor or Social Security expert.
5. Can I receive both SSI and Social Security retirement benefits?
Yes, you can receive both if you qualify for each program. You’ll need to apply and provide the necessary information for both benefits.