Social Security announces new payments of more than $900
If it is about schemes expected by people, it is necessary to mention Supplemental Security Income (SSI). This is a program run by the Social Security Administration (SSA) for children or adults with disabilities.For their part, these children or adults do not have enough resources to meet basic needs such as food, clothing, housing or transportation.
Those eligible for this money do not need to prove previous work experience and there is no age requirement. Unlike Social Security or the Social Security Disability Insurance (SSDI) benefit, this is precisely one of the program’s benefits.
The Social Security Administration first issued SSI payments in January 1974. In this regard, payment rates for cost-of-living adjustments (COLAs) have increased since 1975. COLA’s job is to ensure that payments sent by SSA keep pace with annual inflation.
Already in 2023, the COLA was 8.7%, affecting all Social Security payments, including supplemental income.
Each SSA program has its own payment schedule and SSI payments are received on the first day of the month. So, these beneficiaries have few more days to get their money.
SSA must consider a potential beneficiary’s net income to determine eligibility and benefit amounts. However, the higher the person’s income, the lower their SSI.
Along the same lines, it should be clarified that in some cases, income may disqualify people for this type of assistance.
How much money can you get?
Many Americans may receive more than $900.00 USD in the next few days. In other words, most individual SSI recipients receive up to $914.00 each month. Meanwhile, eligible couples will receive up to $1,371.00 USD.
Essentials will also receive a monthly fee of $458.00 USD. These are people who receive SSI payments and live with someone who provides the care these recipients need.
If paper checks are received late, the SSA recommends waiting an additional three business days before reporting the missing payment.