Millions of beneficiaries will receive the next monthly Supplemental Security Income payment in 12 days, which will be worth up to $914 for individual filers.
The November disbursement will be sent out on Wednesday, Nov. 1, and will be the first Supplemental Security Income payment since the end of September. October’s payment went out in September because of a kink in the Social Security Administration’s schedule that saw two payments in September.
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Filers need to be at least 65 years old and meet specific financial requirements in order to qualify for the payments. People under the age of 65 could still qualify if they are at least partially blind or have a physical or mental disability that severely limits their daily activities for at least one year or is expected to result in death, according to the SSA.
The amount of money that beneficiaries receive is determined by several factors, which include the filer’s income, living situation, and assets. Individual filers, for example, receive a maximum payment of $914 per month.
Couples that file jointly can also receive payments, which are up to $1,371 per month. Essential persons, which are people who live with someone receiving SSI and provide them with necessary care, get a lower monthly payment of up to $458. Not every recipient will receive the maximum payment, so filers should check how much they can expect through the SSA’s calculator.
Children could also be eligible for SSI payments if they are at least partially blind or have a physical or mental condition that seriously limits their activities for at least a year. Children could also receive SSI if their parents do not receive SSI benefits or if they have limited income and savings.
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The monthly amount of each benefit is expected to rise by 3.2% in 2024, according to the SSA. It will also rise by the same percentage for regular retirement payments, which are separate from SSI payments.
Regular retirement payments can be received in addition to Supplemental Security Income.
