Did you know that eligible Social Security beneficiaries in the United States can receive up to $943 extra each month? There are only two requirements you need to meet to get this additional payment. Many Americans miss out on this benefit simply because they don’t know they qualify. Don’t miss out. Keep reading to learn more.
How to Get the Extra Social Security Payment Each Month
Social Security beneficiaries can apply for this extra check, known as Supplemental Security Income (SSI), if they meet two conditions:
- Age or Disability: Be 65 or older, or have a disability.
- Income: Have a low monthly income and limited resources.
The first payment has already been sent out, and the second one will be on Friday, May 31st. In addition to this double payment, seniors will also see increased benefits thanks to a 3.2% cost-of-living adjustment (COLA) approved last year.
Seniors and disabled individuals eligible for Supplemental Security Income (SSI) will receive this double payment because the first of June falls on a weekend. However, this doesn’t mean an extra payment—it’s just an advance from June. Whenever a payment date falls on a weekend or holiday, the Social Security Administration (SSA) reschedules it to the preceding business day.
When you should expect to receive payments
If you’re eligible for this check, you’ll receive a new payment on the 1st of each month, with a few exceptions. For example, in May, there will be two payments—one on the 1st and another on the 31st.
The amount you get depends on your monthly income. The lower your income, the higher the check, with a maximum amount of $943. Individuals can receive up to $943 per month, while eligible couples can get up to $1,415. Plus, some recipients who meet the essential person (EP) conditions from Social Security can get an extra $472 per month.
It’s also worth noting that you don’t need to be retired to receive this check. While Supplemental Security Income (SSI) is compatible with Social Security retirement benefits, being retired is not a requirement to apply for this extra monthly payment.
Lastly, if you don’t meet the requirements, you won’t be able to receive this monthly check. Make sure you understand all the conditions, and if you qualify, apply as soon as possible. This extra money could be a great help for your budget.
The importance of SSI
Why is this Social Security payment important for millions of SSI recipients? The SSI payment is crucial for millions of Americans, providing a steady income to help cover basic needs like food, housing, and utilities. For many, this payment is essential for their financial well-being, with some recipients relying entirely on it each month. According to the Census Bureau, SSI payments go to 8.6 million working adults aged 18 to 64, who make up the majority of SSI claimants (62%), followed by seniors aged 65 and older (25%), and children under 18 (12%).
This Social Security payment isn’t just vital for seniors; it also benefits children who qualify. If they receive this payment, they can get 84% coverage from the Children’s Health Insurance Program (CHIP) or Medicaid. Additionally, households eligible for SSI might also qualify for rental subsidies (26%), energy assistance (20%), and the Supplemental Nutrition Assistance Program (65%).