Social Security Announces 2024 SSI Payment Dates – One Date Will Include an Increase

As we approach the end of the year, beneficiaries of the Supplemental Security Income (SSI) program can expect their next four payments, according to the Social Security Administration’s payment schedule. SSI beneficiaries, who didn’t receive a payment in September, will receive the first of these payments on October 1st.

Typically, SSI payments are disbursed on the first of each month. However, if the payment date falls on a weekend or government holiday, payments are rescheduled for the prior business day. This ensures no delays in the distribution of funds.

Let’s break down the schedule for the next few months so you can know when to expect your payments.

Payment Dates

The Social Security Administration (SSA) maintains an annual payment calendar that outlines when payments will be made. Here’s what the upcoming SSI payment schedule looks like:

Month	SSI Payment Date	Advanced SSI Payment
September	–	–
October	October 1st	–
November	November 1st	November 29th
December	–	December 31st

In November, beneficiaries will receive an advanced payment for December on November 29th, due to the timing of the holiday. December will also include a payment on the 31st, which will factor in the new Cost of Living Adjustment (COLA) increase. This means beneficiaries will start the new year with a higher benefit check, ensuring the COLA boost is applied right away.

Eligibility Criteria

To qualify for these SSI payments, beneficiaries must meet strict income and asset guidelines. Individuals must show that their monthly earnings are below $1,941, while their total assets should not exceed $2,000. For couples, the asset limit is $3,000. These stringent requirements are put in place to ensure the program assists those in the most need.

Applicants seeking disability benefits face even tougher eligibility criteria, including medical assessments. These evaluations are typically performed by state disability determination agencies, and unfortunately, many petitions are denied due to exceeding the income or asset limits. In fact, between 2018 and 2020, around 40% of SSI applicants were deemed eligible after navigating the complex application process.

Amounts

The amount an SSI recipient receives depends on their filing status, income, and the new 2.5% COLA increase that will apply to payments on December 31st. For those filing as individuals, they can expect a maximum monthly benefit of $943, while the average payout is $698. Couples who meet the income requirements can receive up to $1,415 per month.

Here’s a breakdown of what beneficiaries can expect from their payments, including the anticipated COLA increase:

SSI Benefits	Current Amount	COLA Increase	New Amount
Average Payout	$698	$17	$715
Individual Payout	$943	$24	$967
Couple’s Payout	$1,415	$35	$1,450
Essential Person	$472	$12	$484

These adjustments are essential as they help beneficiaries keep pace with inflation and rising living costs.

Benefits

To ensure you’re receiving the full benefits you’re entitled to, it’s crucial to stay within the SSA’s eligibility requirements. If you earn more than $1,941 per month or have assets exceeding $2,000 as an individual, you risk disqualification. Additionally, keep an eye on any changes in the asset limit or eligibility guidelines, as exceeding these limits—even unintentionally—could jeopardize your payments.

For those still navigating the application process, it’s important to ensure all paperwork is completed correctly. Many petitions are denied due to technical errors or missing information, which can easily be avoided. If you’re unsure about your eligibility or want assistance with your application, consider consulting a legal or financial advisor specializing in Social Security benefits.

Payments

As 2023 winds down, SSI beneficiaries have several upcoming payments to look forward to, with one notable increase thanks to the COLA adjustment. The financial relief these payments provide can make a huge difference, especially for those who rely solely on SSI as their primary source of income. Make sure you keep track of the payment dates and stay informed of any changes to your benefits.

If you have questions about your payments or need help knowing eligibility, it’s a good idea to visit the Social Security Administration’s official website or speak with an advisor. Planning ahead can help ensure you’re prepared for any unexpected changes or delays.

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