October SSI Increase: $744 Payments for 18-64-Year-Olds Confirmed
The Social Security Administration (SSA) has announced that the next Supplemental Security Income (SSI) payment in the United States will be issued in less than 24 hours. One of the benefits of this payment is that all SSI recipients will receive their funds on the same day. However, the amount each recipient receives will vary based on their income levels, other benefits they may be receiving, such as SSDI or retirement, and their savings.
Average SSI Payments for October
In October, recipients aged 18-64 can expect an average payment of approximately $744. While this is a significant amount, it is not the highest average payment among age groups. Children under 18, for instance, can receive an average payment of about $820 from SSI.
For seniors aged 65 and older, the average payment is around $575. This lower amount is often due to many seniors receiving Social Security retirement benefits alongside their SSI payments. The maximum benefit for SSI recipients is $943 for individuals and $1,415 for married couples.
Payment Schedule
Regardless of the payment amount, the payment date is consistent for all SSI beneficiaries. Since the number of recipients is smaller compared to Social Security, it allows for this uniformity.
The payment will be issued on October 1, 2024. Typically, most SSI payments are scheduled for the first day of the month, unless that day falls on a weekend or a holiday.
If you qualify for the payment on October 1 and remain eligible, your subsequent payments will be due on:
- November 1
- November 29 (check or direct deposit for December)
- December 31 (check or direct deposit for January 2025)
Additional Benefits for SSI Recipients
SSI recipients may also qualify for several other benefits simultaneously, which can help supplement their income:
- Supplemental Nutrition Assistance Program (SNAP): This program assists with food costs without affecting SSI payments.
- Medicaid: SSI recipients typically qualify for Medicaid, which covers doctor and hospital bills.
- State Supplements: Some states offer additional SSI payments that do not reduce the federal benefit.
- Earned Income: Recipients can earn income up to twice the federal benefit rate and still receive a partial SSI payment, as only a portion of earned income counts against the SSI benefit.
- Unearned Income: Income from household members not in a spouse or parent-child relationship generally does not count against SSI benefits, unless deeming rules apply.
- Temporary Assistance for Needy Families (TANF): States may provide additional assistance programs like TANF that do not impact SSI eligibility.
- Full SSI Benefits in Homeless Shelters: Recipients can receive their full SSI benefit for up to six out of nine months while living in a public homeless shelter.
