In the United States, the Social Security Administration (SSA) will send new payments to its beneficiaries on September 1.
As usual, those enrolled in the Supplemental Security Income (SSI) program will be the first to receive their benefits.
In this regard, the SSA divides the payments according to the type of benefit, a regulation stipulated since the annual payment dates are organized.
That is to say, those who are the first to receive their money usually receive it on the first day of each month.
The truth is that its objective is to benefit people with severe disabilities that limit their income and their ability to support themselves financially. Therefore, payments can reach up to $943.00 USD.
To give you an idea, SSI in the United States financially helps people over 65 years of age with economic difficulties, who are blind or disabled.
However, SSI benefit amounts depend on several factors, including the beneficiary’s income and living situation.
What is the maximum SSI amount in 2024?
For this year, the maximum federal SSI benefit amount is $914.00 USD per month for an individual. Meanwhile, for a married couple, if both are eligible, the payment is $1371.00 USD per month.
However, depending on the Cost of Living Adjustment (COLA) these amounts may be adjusted each year based on the consumer price index.
There are also a number of factors that affect the amount of SSI benefits. These include income. For example, the amount of SSI may be reduced if the beneficiary has income, either from work or from other sources. Rules are set for how income is counted.
Where you live also affects SSI amounts. This is because some states supplement the federal benefit with additional payments. So, the amount a beneficiary receives may be higher in those states.
Finally, the beneficiary must have limited resources, less than $2000.00 USD for an individual and $3000.00 USD for a couple.
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