If you qualify for the Supplemental Security Income (SSI) program, you might see a new payment of over $1,400 in your bank account soon. The Social Security Administration (SSA) has announced this new payment for July 1st. The SSA has been providing benefits like Old Age, Survivors, and Disability Insurance (OASDI) and SSI since 1935. Almost 68 million Americans receive these benefits. This article will explain who is eligible for SSI, how to apply, and when to expect your payments.
What is SSI?
The Supplemental Security Income (SSI) program is for low-income elderly, blind, and disabled people who need financial help but have never paid Social Security taxes. This is different from OASDI, which is for people who have paid Social Security taxes.
SSI Payment Eligibility Requirements for 2024
Income and Resource Limits
To qualify for SSI, you must meet strict income and resource limits:
- Individuals: $2,000
- Couples: $3,000
Disability Requirements
Disabled applicants must show they have a severe physical or mental disability expected to last more than 12 months or result in death. You will need to provide medical documentation as per SSA requirements.
Work and Income Rules
- If you earn money from a job, for every $2 you earn, your SSI payment decreases by $1.
- Non-work sources of income, like disability, unemployment, and pensions, also reduce your payment by $1.
- Living with a spouse or children can affect your payment.
Incorrect applications, where income or assets exceed the limits, are immediately rejected.
SSI Payment Dates Confirmed by Social Security
SSI typically provides one payment per month. Here are the upcoming payment dates:
- July: Monday, 1st
- August: Thursday, 1st
- August (September): Friday, 30th
- October: Tuesday, 1st
- November: Friday, 1st
- November (December): Friday, 29th
Maximum SSI Payment in July
The SSA sets different payment amounts based on the beneficiary’s category:
- Individuals: Up to $943 per month
- Couples: Up to $1,415 per month
Essential Person (EP) Criteria
An “essential person” is someone who has lived in the qualifying individual’s home since December 1973 and was not eligible for state or SSI benefits. These people may receive an additional $472 per month. An essential person can be temporarily absent from the home but must return within certain time frames to maintain their status.
The SSI program provides crucial financial support to many low-income elderly, blind, and disabled individuals. Understanding the eligibility requirements and payment schedules can help you make the most of this assistance. If you think you might qualify, check your eligibility and apply to receive the benefits you need.
FAQs
1. What is SSI?
SSI stands for Supplemental Security Income, a program providing financial assistance to low-income elderly, blind, and disabled individuals.
2. Who is eligible for SSI?
To be eligible, individuals must meet strict income and resource limits and, if disabled, provide proof of a severe disability expected to last more than 12 months or result in death.
3. How does income affect SSI payments?
Earnings from work reduce SSI payments by $1 for every $2 earned. Non-work income sources reduce the payment by $1 for every $1 received.
4. When are SSI payments made?
SSI payments are made on the first of the month. In 2024, some months will have two payments due to timing adjustments.
5. What is the maximum SSI payment?
The maximum payment for individuals is $943 per month, and for couples, it’s $1,415 per month. Essential persons may receive an additional $472 per month.