More than 7.5 million Americans get money from SSI (Supplemental Security Income). It goes without saying that these people are looking forward to getting the 2025 COLA raise from Social Security. When will they get the new boost, though?
The Social Security Administration (SSA) says that people who get SSI will be the first Americans on this Federal benefit to gain from the increase in the cost of living.
Which SSI recipients will receive $288 extra per year after COLA in 2025?
People on SSI who are eligible for the highest amount in 2024 and continue to be eligible in 2025 will get a total of $288 a year. So, how much more will people who get Supplemental Security Income get from the 2.5%?
The truth is that people who get SSI will only get an extra $23 a month. That’s why 12 times 23 earns $288 a year. Just so you know, this Federal perk is also given to other people. Supplemental Security Income, for instance, can give money to married couples who qualify and to people who need it.
Check the most that can be earned in 2024 and after the 2025 COLA increase:
- individual: $943 in 2024 or approximately $967 with a 2.5% COLA increase
- eligible married couples: $1,415 in 2024 or approximately $1,450 with a 2.5% increase
- essential persons: $472 in 2024 or approximately $483 with the 2.5% boost
How much money per year will get married couples on SSI after COLA?
A single person getting Supplemental Security Income can get an extra $288 a year, but a married couple can get a lot more. Of course, they have someone else in their family who is also getting this advantage.
Married people who are qualified and get Supplemental Security Income will get up to $420 every year. Remember that each payment will have an extra $35 added on top of the highest amount in 2024.
People who want to get SSI must first have a low income. Then, they need to be at least 65 years old, have a disease, or be blind. You can’t keep getting these regular payments if you don’t meet these important requirements, and you won’t be able to get them if you haven’t already applied.