Social Security Confirms – Monthly SSI Payments Could Increase by $131 for Over 90,000 People

On October 1, 2024, millions of seniors over 65, people with disabilities, and blind individuals will receive their Supplemental Security Income (SSI) payments. This date is significant because the Social Security Administration (SSA) has scheduled a new round of payments, affecting around 7.5 million recipients across the U.S. For many, this payment could include an increase of up to $131, benefiting more than 90,000 individuals.

SSI payments are designed to assist low-income individuals with limited resources who are aged, blind, or disabled. All eligible recipients—adults and children alike—will receive their payment on October 1, provided they continue to meet SSI requirements.

Amount

Not all recipients will receive the same amount in their SSI check. For those who qualify for the full SSI payment in 2024, the maximum amount could be $943. However, to receive this amount, individuals must have no income reductions and must meet all the SSA’s eligibility criteria without breaking any of the rules. Many factors can reduce this payment, such as additional income or assets. In fact, the average SSI payment for seniors is $698, and it’s $575 for individuals over the age of 65.

Eligibility

Who will receive this $943 payment on October 1? To qualify for the full amount, individuals must meet specific requirements under the SSI program. This includes having limited income and resources, as well as meeting at least one of the following conditions:

• Being at least 65 years old
• Being legally blind
• Having a disability that meets SSA’s definition

Children under 18 who qualify for SSI due to a disability or blindness will also receive their payment on the same day as adults.

Adjustments

Why are SSI payments higher for some in October? The SSA has recently made adjustments to the rules governing SSI payments, which could slightly boost payments for some recipients. For example, a significant change was the removal of the “In-kind Support and Maintenance” rule. Under this previous rule, recipients who regularly received food or shelter from someone else could see their benefits reduced. This rule change allows recipients to keep more of their benefits without being penalized for outside support.

Another key modification involves the definition of “public assistance household,” which has been adjusted to broaden eligibility for SSI. This change allows more low-income individuals to qualify for benefits. Additionally, there have been expansions to the SSI rental subsidy policy, which could benefit those living in subsidized housing. Although these rule changes won’t bring massive increases, they do result in more people qualifying for slightly higher payments.

Projections

While the latest Cost of Living Adjustment (COLA) for 2025 won’t take effect until December 31, 2024, it is still a significant factor in future SSI payments. The Senior Citizens League has forecasted a modest COLA increase of 2.57%, which would raise the SSI payment for seniors who currently receive $943 to approximately $966 in 2025. Likewise, married couples who receive up to $1,415 on October 1, 2024, could see that amount increase to around $1,450 after the 2025 COLA goes into effect.

Payment

For those receiving SSI, the October 1 payment date applies to all recipients who meet the criteria, regardless of age. Payments will be sent out either by direct deposit or by mail, depending on the method recipients selected. It’s important to note that if you don’t receive your payment by the expected date, you should check with the SSA to ensure that there are no issues with your eligibility or payment details.

Impact

These SSI payments provide crucial support to millions of Americans who face financial challenges due to age, disability, or blindness. By maintaining eligibility and staying informed about rule changes, recipients can ensure they continue to receive the support they need. The modest increases brought by rule adjustments and future COLA changes offer some hope for financial relief in the coming years.

Overall, while the SSI payment amounts might not seem like much, they make a big difference to those with little income and limited resources. Staying on top of these changes is key to maximizing the benefits available to low-income seniors and individuals with disabilities.

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