Social Security update: $914 direct payment coming in 26 days.
Next Installment of Supplemental Security Income Program Coming in 26 Days
The Social Security Administration’s Supplemental Security Income program recipients can look forward to their next payment installment in just 26 days, according to the SSA’s schedule.
The payment is scheduled to go out on Tuesday, Aug. 1, 2023, and will mark the first payment for beneficiaries since June. This is because there were no payments in July. However, June saw two payments due to a scheduling quirk that placed July’s payment on June 30.
Ensuring 12 Checks per Year
The adjusted schedule ensures that each recipient still receives 12 checks per year, even though the number of payments may vary from month to month. In some months, beneficiaries receive two checks, while in others, they receive none. This year, there are four months in which two payments are delivered in the same month: March, June, September, and December. This is due to the first of the month falling on a weekend in April, July, and October, and Jan. 1 being a holiday.
Varying Payment Amounts
There is some variation in the amount of money that beneficiaries receive, depending on their filing status. Individuals who file individually receive a maximum of $914 every month. Eligible couples receive up to $1,371, and essential persons, who live with SSI recipients and provide necessary care, receive a monthly payment of up to $458, according to the SSA.
Qualifying for SSI
To qualify for SSI, a person must be over 65 and meet specific financial requirements. They must also be at least partially blind or have a physical or mental condition that significantly limits their daily activities for a period of 12 months or more, or may be expected to result in death.
Click here to read more from The Washington Examiner.
Separate from Social Security Benefits
It’s important to note that these payments are separate from the normal Social Security benefits that go out to retirees. The SSI program provides monthly payments to adults and children with blindness or another disability and limited income.
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.
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