In December, over 7 million beneficiaries in the United States will receive double payments from the SSI program, following a change in the SSA payment calendar. This alteration might create confusion for some who are used to being paid once a month. For those closely monitoring the 2024 payment schedules, no surprise follows from this modification.
Why will there be two payments in November?
The SSA intended scheduled SSI payments to coincide with the business days of the calendar. This time, payment for the month will be made a day earlier, to the preceding Friday, which is November 29. This is due to the fact that it is on a Sunday. Hence, beneficiaries get their checks on the following dates:
- Friday, November 1
- Friday, November 29
They will enjoy an extra payment with checks arriving on December 31 since January 1 is a holiday. Such a pattern is a norm where payment dates are contiguous with weekends or holidays, thus ensuring beneficiaries do not lose a dime in income.
Cost-of-living adjustment (COLA) increase
Beginning January 2025, payments will include a cost-of-living adjustment (COLA) increase, announced on October 10 prior. This increase of 2.5 of the effective weekly benefit amount is to be:
Category | Average payment | With increase | Increase |
Individual beneficiaries | $943 | $967 | $24 |
Couples | $1,415 | $1,450 | $35 |
Essential person | $472 | $484 | $12 |
Who qualifies for SSI payments?
Supplemental Security Income (SSI) is an income-maintenance program for aged, blind, and disabled individuals who have limited income and resources and a minimum net worth. According to SSA, the following are the appraised basic eligibility requirements:
- Having low or no income.
- Possessing limited resources.
- Being disabled, blind, or 65 years or older.
For 2024, the maximum monthly benefit will be $943 for individuals and $1,415 for couples. It’s sometimes confused with Social Security Disability Insurance (SSDI). Though similar, they have noteworthy differences: SSDI is based on work history and requires that contributions be made to Social Security through income tax. On the other hand, SSI doesn’t require work history.
New SSI application process
This new online system will be known as iClaim and is primarily intended to facilitate and expedite the process for people applying for SSI benefits. It will be rolled out first to include adults aged 18 to 65 years who are never married and apply for SSI simultaneously with Social Security starting in December.
It plans to expand its usage by 2025 and allow more beneficiaries to take advantage of what could efficiently be a modern tool for managing their applications. Along with a new payment schedule and modernization of many administrative processes, the SSA has taken these steps to ensure that payment to SSI beneficiaries goes out on a timely basis without hassles.