Direct Payment Recipients of the Social Security Administration’s Supplemental Security Income (SSI) program are eagerly anticipating their August direct payment, which will be disbursed in just four days, according to the SSA’s schedule.
Individual filers can expect to receive up to $914 direct payment in their August payment
Due to a one-month gap that encompassed July, the August direct payment will be the first one since June, which saw a double payment. The SSA follows an adjusted schedule to ensure beneficiaries receive 12 checks per year. Months with weekends at the beginning, such as April, July, and October, result in two direct payments in the preceding month. For instance, in September, recipients will receive both September and October payments, with the payment set for Friday, Sept. 29, as Oct. 1 falls on a weekend.
The amount beneficiaries receive depends on their filing status. Couples eligible for SSI can receive up to $1,371 monthly, while independent filers may receive as much as $914 direct payment each month. Essential caregivers living with and caring for SSI recipients can receive up to $458 in monthly payments.
Eligibility for the Supplemental Security Income program requires individuals to be over 65 and meet specific financial criteria
Individuals under 65 may also qualify if they are partially blind, have a physical or mental condition severely limiting their daily activities for at least one year, or have a condition expected to be fatal.
The SSI payments were introduced in January 1974, and since 1975, they have increased with cost-of-living adjustments (COLA). As of June’s data, the COLA for 2024 is expected to bring an approximate 3% increase in direct payment rates. Recipients can look forward to their August direct payment on Aug. 1, providing essential financial support to those in need.
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