Social Security update: Direct payment worth total of $914 arrives on Tuesday
Misty Severi
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Recipients of the Social Security Administration’s Supplemental Security Income program received their August payment of up to $914 for individual filers on Tuesday, the first of such payments since June, according to the administration’s calendar.
The payment was sent out on Aug. 1 and is the first payment for recipients since June 30, when a one-month gap skipped payments in July due to a scheduling kink in the administration’s calendar. June received a double payment as a result due to July 1 falling on a weekend.
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The amount of money that beneficiaries receive depends on what category they file under. Eligible couples can receive up to $1,371 each month. Those who file independently can see as much as $914 every month, and essential people who live with and care for people receiving SSI payments get a monthly payment of up to $458, according to the SSA. Not every recipient receives the maximum payout.
Recipients normally just get one payment each month, but there are four months this year when the beneficiaries get two checks: March, June, September, and December. This is because the first of the month falls on a weekend in April, July, and October and Jan. 1 is always a holiday. This adjusted schedule ensures that beneficiaries still get 12 checks per year. The recipients do not see a payment in April, July, October, or January.
The next month that will see two payments is September, when recipients will also receive October’s payment because Oct. 1 is on a weekend. Recipients will receive the payment on Friday, Sept. 29, because Sept. 30 is also a weekend.
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In order to qualify for the Supplemental Security Income program, a person has to be over 65 and meet specific financial requirements. Those under 65 could also qualify if they are at least partially blind or have a physical or mental condition that seriously limits their daily activities for at least one year or is expected to result in death.
SSI payments were first issued by the administration in January of 1974, and payment rates have increased for cost-of-living adjustments since 1975, according to the agency. The COLA for 2024 is projected to be an approximately 3% increase based on June’s numbers.