Social Security update: $914 direct payment coming in 28 days.
Next Installment of Supplemental Security Income Program Coming in Four Weeks
Recipients of the Social Security Administration’s Supplemental Security Income (SSI) program can expect their next payment in exactly four weeks, according to the SSA’s schedule.
The payment will be sent out in 28 days, on Tuesday, Aug. 1, 2023. It’s important to note that there will be no payments in July, as the July payment was already issued in June due to a scheduling quirk.
Recipients may have noticed that they received two payments in June. This occurred because July 1 fell on a Saturday, and recipients typically receive only one payment per month. However, the adjusted schedule ensures that recipients still receive a total of 12 checks per year, even if some months have two payments and others have none.
Upcoming Direct Payment Worth Up to $4,555
In just nine days, millions of individuals will receive a direct payment worth up to $4,555 as part of the Social Security update.
Throughout the 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, as well as Jan. 1 being a holiday every year.
The amount of money beneficiaries receive varies depending on their filing status. Individuals filing individually can receive a maximum of $914 per month, eligible couples can receive up to $1,371, and essential persons who provide necessary care to SSI recipients receive a monthly payment of $458, according to the SSA.
To qualify for SSI, individuals must be over 65 and meet specific financial requirements, have partial blindness, or have a physical or mental condition that significantly limits their daily activities for at least 12 months or is expected to result in death.
These SSI payments are separate from the regular Social Security benefits received by retirees. The SSI program provides monthly payments to adults and children with blindness or disabilities and limited income.
The SSA first issued SSI payments in January 1974, and payment rates have been adjusted for cost-of-living increases since 1975.
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