SSI Check Rise Expected in 2024: Beneficiaries to See Payments Increase by Up to $943

Some Supplemental Security Income (SSI) beneficiaries will see an increase in their SSI checks due to a backlog in payments. Because many people live paycheck to paycheck, the Social Security Administration (SSA) has announced that Supplemental Security Income benefits will be increased dramatically.

This program is designed to assist low-income Americans, disabled persons who have not paid Social Security taxes, and children in certain financial situations. Millions of people rely on SSI payments to fund their living expenses.

To be eligible, applicants must demonstrate that their income and resources, including salaries and other Social Security benefits, fall below specific criteria.

The Social Security Administration Has Confirmed that the Increase in SSI Checks Will Arrive Soon

The increase in payments will benefit around 400 people with terminal illnesses, including individuals with severe conditions such as chronic heart failure and numerous types of cancer. According to the SSA, this particular beneficiary group has faced benefit payment delays, putting them in a difficult situation and leaving them with insufficient funds to cover day-to-day living expenditures.

However, in this case, the emphasis is on the urgent needs of recipients who have been underpaid and are suffering from terminal conditions.

The Social Security Administration (SSA) has determined that it is critical to intervene and ensure that these individuals receive the financial assistance to which they are lawfully entitled, particularly during life-altering events.

In addition to lessening these recipients’ financial burdens, the upcoming benefit revision will provide additional stability in the face of difficult conditions. Monthly checks are expected to grow in the next three to six months. The amount of the increase cannot exceed the maximum monthly SSI payment allowed in 2024, which is USD 943.

Additional Benefits for Social Security Claimants as of December

Aside from the previously reported rise in SSI checks, users of this program will get an additional boost in monthly benefits due to the cost of living adjustment (COLA), which will be announced next week.

Even though we won’t know the COLA increase until October 10th, we’d want to provide you an estimate of how much your SSI checks will increase with a 2.5% cost-of-living adjustment.

Remember that these beneficiaries will receive their enhanced monthly check on December 31st, while other beneficiaries will not receive their additional benefits until January. The rationale for this early payment is that the Social Security Administration always releases SSI checks on the first of each month, but because January 1 falls on a holiday, the SSA will reschedule that payment for the preceding business day.

Once the money has been delivered, remember that if it does not come on the specified date, you should wait at least three mailing days before calling customer care, as the delay could be due to your banking processing system.

When Will Beneficiaries Receive Their Final SSI Payments of the Year?

Because the federal government must distribute more than 70 million payments per month, they created a Social Security payment schedule that allows all recipients to view the specific payment dates for each program. According to this schedule, SSI beneficiaries will receive their final four Social Security payments for the year on the following dates:

Source