The month of July starts in the best way, with a new social benefit to which you will have access. However, you will have to hurry since it has been confirmed almost at the last minute and there are only a few days left before the deadline. This is the new Social Security Payment that you will be able to receive, whose requirements we explain below, as well as the information you should take into account. Can you imagine starting the summer with more than $900?
New $943 Social Security payment coming soon: these are the last days to receive it
With the latest news now out from the Supplemental Security Income (SSI), qualifying benefits’ gurus affirm that the second tranche of payments is due in less than 15 days. These disability benefits are for additionally deprived seniors, disabled people, and a number of children under the SSI rules of earnings and resource restrictions.
For those who have not paid taxes in the system before the three years leading to disability, SSI offers financial support to the disabled, unlike SSDI. People who qualify are the elderly who have low income or are disabled, and even certain children with a limited income and the resources of SSI.
It must depend on the official of the agency that the amount can stretch up to a definite maximum amount according to the recipient’s eligibility. Others include young individuals who live with SSI recipients and file taxes individually; married couples, where one is a recipient; or those who are in a relationship as a spouse and live with the recipient to offer care required for their survival.
Up to 5 million Americans will receive these payments within the next few months
For joint filers, $415 can be received monthly, and for dependents, $472 maximum. These amounts have further gone up by 3.2 % compared to the previous year because of inflation. Besides the betterment of organized income, SSI also advocates that it include an annual cost of living adjustment for monthly benefits.
Supplemental Security Income (SSI), with the help of a monthly SSI payment, aims to support approximately 5 million senior citizens with a low income, aged 65 years and over, disabled applicants with certain cases of children facing a problem meeting their basic needs.
Deadline is approaching, but you can even claim a double Social Security payment
The payments for SSI are issued by the SSA one day before, but the day may vary. However, if the first day of the month is a holiday or if the first falls on a weekend, the payment is made on the last working days of the preceding month. Hence, July payments were on Friday, May 31, with June payments not made at all.
The upcoming SSI payment dates for 2024 are:
- Friday, May 31 (for June).
- Monday, July 1.
- Thursday, August 1.
- Friday, August 30 (for September).
- Tuesday, October 1.
- Friday, November 1.
- Friday, November 29 (for December).
Later this year, the SSA has said that another rise to the monthly benefits will happen, again lifting the portion of the cost-of-living adjustment that goes to seniors. For the SSE beneficiaries, funded through the SSA, the program will increase benefits by 3.2. % the amount due to changes in the COLA.
This means that if the average amount is received in August, then the average recipients, individual and couples are to receive around $1,316, $1,886, $2,830 respectively. You can also verify the payment schedule of your SSI on the SSA main site (remember to use only official sources to file your documents).
As you have had the opportunity to check, July comes with a $943 Social Security Payment that many would have considered a hoax a few months ago (remember that it was one of the most rumored due to its increase in the amounts). However, it has received official confirmation and, of course, has passed our fact-checking so that you receive only truthful, clear and transparent information. But do not delay too long; remember that these are the last days.
