Social Security update: Direct payment worth $914 arrives in 18 days

Supplemental Security Income beneficiaries will receive their June payments, worth $914 for individual filers, in 18 days.

The payments will be sent to eligible recipients on June 1, and different amounts will be distributed to individual filers, joint filers, and essential persons.

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Individual filers receive $914 each month, and eligible couples receive $1,371. Essential persons, who live with someone receiving SSI payments and provide them with necessary care, get a monthly payment of $458, according to the Social Security Administration.

SSI payments are separate from the regular Social Security payments retirees receive every month. To qualify for SSI, a person has to be over the age of 65, be totally or partially blind, or have a medical condition that keeps them from working and is expected to last at least one year or result in death.

Although the payments are often disbursed on the first of each month, there are exceptions for when the first falls on a weekend or a holiday. In those cases, the SSA sends its monthly SSI checks on the last business day before the month begins.

The adjusted schedule means beneficiaries still receive 12 checks per year, even though some months receive two checks and some receive none. There are four months in which two payments will be delivered in the same month in 2023: March, June, September, and December. This is because the first of the month falls on a weekend or holiday in April, July, and October. Jan. 1 is always a holiday.

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The July payment will be issued to beneficiaries on June 30 because July 1 falls on a Saturday.

SSI payments were first issued by the SSA in January 1974, and payment rates have increased for cost-of-living adjustments since 1975, according to the agency.