Good News: Supplemental Security Income Payment Return to Normal

In November 2022, the Supplemental Security Income (SSI) payment schedule will return to the normal following two consecutive months of deviations. According to the Social Security Administration, SSI payments are usually made on the first of the month. If the first falls on a weekend, payments will be made on Friday before.

Social Security and Your Expenses
Social Security and Your Expenses

This year, you will get your November 2022 payment on November 1.

In October 2022, no SSI payments were received, whereas two were issued in September. Due to an anomaly in the payment schedule, SSI recipients receive two payments in April, September, and December but none in January, May, and October.

SSI benefits are granted to Social Security recipients whose regular payments are insufficient to meet basic living expenditures. The Social Security Administration provides monthly payments to individuals and children with disabilities and blindness with limited income and resources. SSI payments are also provided to non-disabled seniors 65 and older who fulfill the income requirements.

How Do SSI and Social Security Differ?

Many individuals eligible for SSI may also be eligible for Social Security. In reality, the SSI application is a Social Security benefits application. In contrast, SSI and Social Security differ in several ways.

Social Security benefits may be available to certain members of your family if they have worked long enough and paid Social Security taxes. Unlike Social Security payments, SSI payouts are not dependent on previous employment or that of a family member.

SSI is funded by the United States Treasury’s general revenues, including personal income taxes, business taxes, and other taxes. SSI is not funded by contributions to Social Security collected under the Federal Insurance Contributions Act (FICA) or the Self-Employment Contributions Act (SECA).

In most states, SSI beneficiaries are also eligible for medical assistance (Medicaid) to cover hospital stays, doctor’s fees, prescription medicines, and other medical expenses.

Additionally, several states offer extra payments to select SSI beneficiaries.

Food aid may also be available to SSI users. In many states, a request for SSI also functions as a request for food assistance.

Each month, SSI payments are made on the first.

Some states and territories of the United States supplement the federal SSI benefit with extra payments. The amount you receive depends on your salary, living situation, and other variables. The maximum SSI payment fluctuates annually depending on the Social Security cost-of-living adjustment (COLA), which is connected to inflation.

The Social Security Administration (SSA) has announced a cost-of-living adjustment (COLA) of 8.7%, the largest increase over four decades for SSI claimants. The maximum monthly federal SSI payments for 2023 are $914 for a qualified individual, $1,371 for a qualified individual with a qualified spouse, and $458 for a qualified essential person.

SSI essential persons live with SSI recipients and provide necessary care, according to Benefits.com. This might be a youngster caring for a parent or an in-home caregiver. Before filing for SSI benefits, you must ensure that you satisfy the tight conditions around the concept of an essential person.

You May Also Like