As July approaches, new rounds of monthly payments will begin for all Social Security beneficiaries. The first payments will go to Supplemental Security Income (SSI) recipients. If you are a low-income senior over 65 years old, a disabled individual, or a child under certain economic circumstances, you could be eligible to receive monthly checks between $698 and $1,415 in less than four days.
Social Security Payment Schedule
The Social Security Administration (SSA) delivers two rounds of payments in the first week of each month:
- First Day: Payments are sent to recipients from the Supplemental Security Income (SSI) program.
- Third Day: Payments go to beneficiaries from the retirement, survivor, and disability insurance (RSDI) program who started receiving their Social Security payment before May 1997.
What is Supplemental Security Income (SSI)?
Supplemental Security Income (SSI) provides a monthly payment for nearly 5 million low-income individuals who are over 65, have disabilities, or are children in certain situations who cannot meet their basic needs. The SSI program provides a steady income and increases the payment amount each year to keep up with inflation.
SSI and SSDI: What’s the Difference?
Apart from SSI benefits, a disabled person might qualify for Social Security Disability Insurance (SSDI) benefits if they meet specific conditions. The main difference between SSDI and SSI is that SSDI focuses on the disabled and requires prior work experience, while SSI focuses on the elderly and does not require work history.
Social Security Payment Dates
Here are the upcoming payment dates as confirmed by the SSA:
- July: Monday, 1st of the month
- August: Thursday, 1st of the month
- September: Friday, 30th of August
- October: Tuesday, 1st of the month
- November: Friday, 1st of the month
- December: Friday, 29th of November
SSI Payment Amounts
SSI payments vary based on the beneficiary’s income category at application. Higher-income beneficiaries often receive lower monthly payments. The SSA considers common resources like vehicles and bank accounts when determining eligibility.
- Individual Filers: Up to $943 per month
- Couples: Up to $1,415 per month
- Additional Payment: $472 for those meeting the basic filing requirements
Eligibility Requirements for SSI Payments
To qualify for SSI payments, seniors, disabled individuals, and children must meet the following requirements:
- Low Income: Individuals earning less than $1,971 per month; higher limits for couples and parents. Additional income sources might include disability, unemployment, and pensions.
- Few Resources: Limits of $2,000 for individuals and $3,000 for couples in common resources like vehicles and bank accounts.
- Disability Requirements: Must have a disability that prevents working for a year or more, results in death, or substantially limits daily activities. Applicants must show that they earned less than $1,550 per month at the time of application.
FAQs About Social Security Payments
1. Who qualifies for SSI payments?
Low-income seniors over 65, disabled individuals, and children under certain economic conditions.
2. When are SSI payments made?
SSI payments are generally made on the first of the month, unless it falls on a federal holiday or weekend.
3. How much can one receive in SSI payments?
Individual filers can receive up to $943, couples up to $1,415, and an additional $472 for those meeting basic filing requirements.
4. What’s the difference between SSI and SSDI?
SSI focuses on the elderly with no work history required, while SSDI focuses on the disabled and requires prior work experience.
5. How are payment dates decided?
Payment dates are based on the SSA schedule, typically on the first day of each month for SSI recipients.
Social Security payments provide essential financial support for millions of Americans, including seniors, disabled individuals, and children in need.
Understanding the payment schedule, eligibility requirements, and differences between SSI and SSDI can help recipients plan better and ensure they receive the benefits they are entitled to.