People who get Supplemental Security Income (SSI) will get their second Social Security check of the month in less than three weeks. The Social Security Administration (SSA) moved the payment that was supposed to happen on September 1 to Friday, August 30.
People and couples who qualify can get up to $943 and $1,415, respectively. The SSA will also give out retirement benefits on August 28th, which means that some SSI users may get more money during the same week.
Extra Payment
Usually, the SSA sends five rounds of funds every month. As of May 1997, people who got SSI or the retirement, widow, and disability insurance (RSDI) program and claimed benefits get money every first and third of the month. If you started getting benefits after May 1997, the SSA will send you money on the second, third, or fourth Wednesday of each month, depending on your birth date. But if the due dates come on a holiday or weekend, the regular payment schedule may need to be changed.
This month, there will be an extra SSI payment. If a person gets both SSI and retirement payments, they might be able to get two payouts from Social Security. For beneficiaries to get both benefits, they must be at least 62 years old, have worked enough to qualify for Social Security retirement benefits, and meet the SSI program’s income and resource requirements.
Payment Details
| Age | Monthly Deposit |
|---|---|
| Before 62 | $2,710 |
| At 67 | $3,822 |
| After 70 | $4,873 |
SSI Payment Amounts
| Category | Monthly Check |
|---|---|
| Individual | $943 |
| Couples | $1,415 |
| Essential Person | Additional $472 |
To get the full $4,873 Social Security payout, retirees must meet all the requirements for retirement, such as paying Social Security taxes based on their highest taxable income. Because SSA rules can be hard to understand, it’s best to talk to a financial adviser or SSA expert to get the most out of the program.
Federal Benefit Programs
Americans can also get help from other government programs:
SNAP
SNAP helps people with low incomes buy food. Seniors can get an average of $105 a month from the program. But almost half of the people who are qualified don’t take part, which means that about 5 million people don’t get food assistance.
LIS, or Extra Help
This program lowers people’s out-of-pocket drug prices. It costs about $5,300 a year for each recipient. Even though it has benefits, 2 million people who are qualified do not sign up, which costs the government $10.6 billion a year.
Medicare Savings Programs
For people who are qualified, these programs pay their monthly Part B premium. About two to three million people don’t get this help, which costs the government $5.94 billion a year in missed payments. A person or group can get up to $174.70 a month until 2024.
Retirees can get the most out of their Social Security and other benefits by knowing about the upcoming double payments and other government benefit programs. To make sure you have enough money in retirement, it’s important to stay informed and get professional help.
FAQs
When will the next SSI payment be issued?
August 30th, due to the rescheduled September 1st payment.
Who qualifies for double Social Security payments?
Recipients eligible for both SSI and retirement benefits.
What are the maximum retirement payment amounts?
$2,710 before 62, $3,822 at 67, and $4,873 after 70.
What federal benefits are available besides Social Security?
SNAP, Medicare Part D LIS, and Medicare Savings Programs.
How can I maximize my Social Security benefits?
Consult a financial advisor or SSA expert for guidance.