As July approaches, new rounds of monthly payments will be issued for all Social Security beneficiaries. This includes payments for low-income seniors, individuals with disabilities, and certain children. Understanding the schedule and requirements for these benefits can help ensure that you receive the support you need.
Who Will Receive Social Security Payments?
Supplemental Security Income (SSI)
Supplemental Security Income (SSI) provides monthly payments to nearly 5 million people. These include low-income individuals over 65, those with disabilities, and children who cannot meet their basic needs. SSI payments are adjusted yearly to keep up with inflation, ensuring that recipients can maintain their purchasing power.
Social Security Disability Insurance (SSDI)
SSDI benefits are for individuals who are disabled and meet specific conditions. The main difference between SSDI and SSI is that SSDI benefits are based on the individual’s work history, while SSI focuses on low-income elderly or disabled individuals. To qualify for SSDI, an individual must have a prior work history that determines their Social Security payment amount.
Social Security Payment Schedule
Upcoming Payment Dates
The Social Security Administration (SSA) has confirmed the following payment dates for SSI recipients and retired workers:
- July: Monday, 1st of the month
- August: Thursday, 1st of the month
- September: Friday, 30th of August
- October: Tuesday, 1st of the month
- November: Friday, 1st of the month
- December: Friday, 29th of November
Payment Details
SSI payments are generally made on the first of the month unless it falls on a federal holiday or weekend. In such cases, payments are made the previous business day. This ensures that beneficiaries do not face financial difficulties due to delayed payments.
How Much Can You Receive?
Payment Amounts
On average, SSI beneficiaries receive about $698 per month. The basic monthly federal rate can go up to $943 for individuals and $1,415 for couples. An additional $472 is available for individuals who meet specific filing requirements.
Income and Resources
To qualify for SSI payments, you must meet certain income and resource limits:
- Income Limits: Individuals earning less than $1,971 per month, with higher limits for couples and parents. Other income sources like disability, unemployment, and pensions are considered.
- Resource Limits: Common resources include vehicles and bank accounts, with limits of $2,000 for individuals and $3,000 for couples. Childless parents get an additional $2,000 increase.
Disability Requirements
To qualify for disability benefits, individuals must have a disability that prevents them from working for a year or more, results in death, or substantially limits their daily activities. Applicants must show that they earned less than $1,550 per month in the month they apply.
1. Who is eligible for SSI payments?
Low-income seniors over 65, individuals with disabilities, and certain children who cannot meet their basic needs are eligible for SSI payments.
2. How are SSI payment amounts determined?
SSI payment amounts are determined by the recipient’s income and resources. Higher-income beneficiaries often receive lower payments.
3. When are SSI payments made?
SSI payments are generally made on the first of the month unless it falls on a federal holiday or weekend. In such cases, payments are made the previous business day.
4. What is the difference between SSI and SSDI?
SSI is for low-income seniors and disabled individuals, while SSDI is for disabled individuals with a prior work history.
5. How can I apply for SSI or SSDI benefits?
You can apply for SSI or SSDI benefits through the Social Security Administration’s website or by visiting a local SSA office.