Social Security Confirms SSI Increase – $131 Monthly Boost for Over 90,000 Beneficiaries

If you’re eligible for Supplemental Security Income (SSI), you may want to check your bank account, as the October 1st payment might have already been delivered. According to the Social Security Administration (SSA), approximately 7.5 million recipients will receive their SSI payment this month. For some, this payment could see a notable increase of $131 for over 90,000 recipients thanks to recent SSA rule changes.

Who Qualifies

SSI payments are designed for seniors aged 65 and older, as well as people who are disabled or blind. Eligibility for these payments requires having low income and limited resources. All recipients, including both adults and children, receive their payments on the same date.

For those under 18, October 1st remains the payday, the same as for adult recipients. Whether you’re eligible due to a disability, being blind, or based on your age, this date marks the arrival of crucial financial support for many.

Amount

Some seniors are eligible for the full SSI amount of $943 for October 2024, but this only applies under specific conditions:

• Recipients must qualify for the full amount and have no reductions due to other income.
• They must remain eligible by continuing to meet the SSA’s strict income and resource limits.
• The recipient must not break any of the SSA’s rules.

However, not everyone receives the full amount. If you have other earnings or savings, your SSI payment will likely be lower. The average SSI payment is $698, with those aged 65 or older receiving an average of $575.

Payment Increases

The SSA has made several changes to its SSI rules, which could explain why some recipients see a slight increase in their October payments. One key change is the removal of the In-kind Support and Maintenance (ISM) rule. Previously, if you regularly received food or shelter from another person, your SSI benefits could be reduced. With this rule removed, more recipients can now receive their full benefit amount.

The SSA has also adjusted the definition of public assistance households, which expands eligibility for SSI benefits. Additionally, an expansion of the SSI rental subsidy policy means more people with low incomes are now eligible for increased payments. These changes aim to ensure that more Americans who need support can access it.

Changes

While October 2024 marks an important date for current SSI recipients, it’s important to remember that the 2025 Cost-of-Living Adjustment (COLA) will take effect on December 31, 2024. This increase is projected to be 2.57%, according to the Senior Citizens League. Seniors who qualify for the $943 SSI payment in 2024 could see their benefit rise to around $966 in 2025 due to the COLA adjustment.

For married couples, the October 1st SSI payment is set to be up to $1,415. After the 2025 COLA increase, that amount could rise to $1,450. These adjustments help to account for inflation, ensuring that benefits maintain their purchasing power year over year.

The October 1st SSI payment provides essential financial support to millions of Americans, particularly seniors and those with disabilities. Recent changes in the SSA’s rules mean that more people could see slightly higher payments this month, with further increases expected in 2025 due to the upcoming COLA adjustment.

As always, your individual SSI payment may vary based on your income, resources, and eligibility. Be sure to check your account for your direct deposit and stay informed about future changes that could impact your benefits.

FAQs