Goodbye to the $943 and $1,415 SSI payment amounts, bigger checks expected

The Supplemental Security Income program provides benefits to more than 7.5 million Americans. The SSI program can pay you up to $943 if you qualify, however this maximum sum will no longer be accessible. This also holds true for qualified married couples who were paid the maximum of $1,415 in 2024.

Actually, the last day to receive the maximum amounts was December 1, 2024. Following then, all recipients will get a 2.5% rise from the federal government as part of the 2025COLAincrease. As long as you are still eligible for payments, Social Security has verified the rise.

When has Social Security issued the SSI payment for January?

The next January 2025 SSI payment has been scheduled by the Social Security Administration for December 31, 2024. All beneficiaries will therefore get their checks or direct deposits one day ahead of schedule.

If your payment is due on a federal holiday, you may be eligible to receive funds from the federal government. The Agency advances the payout to the prior working day in these situations.

You can therefore receive your January SSI payment in 2024 instead of 2025, even if it is still 2024. Therefore, it is only money given ahead of schedule and is neither a bonus nor an additional payment.

Goodbye to the old SSI maximum amounts

The following SSI maximum amounts for eligible individuals are now available:

• Maximum amount for an individual: up to $967 ($943 in 2024)
• Maximum amount for an eligible married couple: up to $1,450 (up from 1,415)
• Maximum amount for an essential person: up to $484 (up from $472)
• an average payment will become about $714 (up from $697 as of October 2024)

Only those with little or no money are eligible for SSI benefits. Additionally, they have to fulfill one of the requirements given by Social Security.

For instance, you have to be blind, have a disability, or be at least 65 years old. Just so you know, the COLA is raised once a year and whenever inflation increases. Payments may occasionally stay the same or even decrease.

See Also: Can the New US Government Implement the Fourth Stimulus Check?

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