Social Security update: Second of rare direct double monthly checks worth $1,755 to arrive in 14 days

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Social Security update: Second of rare direct double monthly checks worth $1,755 to arrive in 14 days

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Supplemental Security Income recipients are scheduled to receive the second of two payments this month in two weeks from Friday, giving them $1,755 in total SSI benefits in a month.

Eligible recipients will receive a payment of $914 on Dec. 30 after already receiving $841 on Dec. 1. This second payment will be slightly higher than the first due to a cost-of-living adjustment made by the Social Security Administration in order to keep up with inflation, according to the SSA.

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This payment will mark the start of the SSA’s 2023 payment schedule because payments are always given either on the first business day of a month or on the last if the first of the next month takes place on a weekend or a holiday. January payments are always made in the previous month due to Jan. 1, New Year’s day, being a holiday.

Essential persons, meaning someone who lives with a person receiving SSI and provides necessary care, will also get a second payment this month on Dec. 30, this one being $458, up from their Dec. 1 payment of $421. Eligible couples will also receive two payments of $1,261 this month.

The double payments that the SSA occasionally gives offset the months in which it sends no payment, ensuring that recipients receive 12 payments a year, according to the schedule. The months in which recipients received no payments this year aside from December include January, May, and October because the first of these months occurred on a weekend.

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In 2023, recipients can expect to receive double payments in March, June, September, and December because April, July, and October will occur over the weekend and Jan. 1 is a holiday, according to the SSA’s schedule.

The cost-of-living adjustment made by the SSA for 2023 is 8.7%, and the $914 payment is 8.7% higher than the previous $841 payment. This adjustment marks the highest adjustment the SSA has made since 1981, when the COLA was 11.2%.

© 2022 Washington Examiner

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