Social Security update: First of two double direct payments worth $1,828 to arrive in 21 days

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FILE – In this Nov. 15, 2017, file photo, new $1 bills with the signatures of U.S. Treasurer Jovita Carranza and Treasury Secretary Steven Mnuchin are cut and stacked at the Bureau of Engraving and Printing in Washington. (AP Photo/Jacquelyn Martin, File) Jacquelyn Martin/AP

Social Security update: First of two double direct payments worth $1,828 to arrive in 21 days

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Supplemental Security Income beneficiaries are set to receive the first of two payments in the month of March, each worth $914, in only three weeks.

The $914 amount will be for individual recipients, while the rate for eligible couples will be $1,371. Essential persons, who are people who live with someone receiving SSI and provide necessary care for them, will have payments of $458, according to the Social Security Administration’s schedule.

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The first of these double payments will be sent out to eligible recipients on March 1, followed by the second one delivered on March 31 for those same recipients. The second SSI payment is serving as April’s payment because April 1 is a Saturday this year because the SSA does not issue payments to recipients when the first of a month falls on a holiday or on a weekend.

The SSA issues monthly SSI checks on the last business day of months prior to months that begin on a weekend or holiday to ensure recipients have the check by the first of the month, according to the agency. This policy results in recipients receiving two checks in the same calendar month multiple times a year, with beneficiaries receiving a total of 12 checks per year.

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In 2023, there are three other months in which two payments will be delivered in the same month: June, September, and December. This is because the first of the month falls on a weekend in July, October, and January.

SSI payments were first issued by the Social Security Administration in January 1974. Payment rates have increased for cost-of-living adjustments since 1975, according to the agency.

© 2023 Washington Examiner

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