Recipients of the Social Security Administration’s Supplemental Security Income program will receive the first of two payments coming in September, worth up to $914 for individual filers, in 30 days, according to the administration’s calendar.
The payment will be sent out Sept. 1 and is the first of two payments that will be disbursed during the month because of a scheduling kink. Recipients will receive the second payment, which takes the place of October’s payment, on Sept. 29 because Sept. 30 and Oct. 1 are on a weekend.
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Recipients normally get one payment each month, but there are four months this year when beneficiaries get two checks: March, June, September, and December. This is because the first of the month falls on a weekend in April, July, and October. Jan. 1 is always a holiday. This adjusted schedule ensures that beneficiaries still get 12 checks per year. The recipients do not see a payment in April, July, October, or January.
In order to qualify for the Supplemental Security Income program, a person has to be over 65 and meet specific financial requirements. Those under 65 could also qualify if they are at least partially blind or have a physical or mental condition that seriously limits their daily activities for at least one year or is expected to result in death.
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The amount of money that beneficiaries receive each month depends on what category they file under. Eligible couples can receive up to $1,371 each month. Those who file independently can see as much as $914 every month, and essential people, who live with and care for people receiving SSI payments, get a monthly payment of up to $458, according to the SSA. But not every recipient receives the maximum payout.
SSI payments were first issued by the administration in January of 1974, and payment rates have increased for cost-of-living adjustments since 1975, according to the agency. The COLA for 2024 is currently projected to be an approximately 3% increase based on June’s numbers.
