The distribution of Social Security benefits is one of the most important calendar events for seniors across the country, but while all benefits distributed by the Social Security Administration (SSA) are important and vital to their recipients, there is one that is perhaps more anticipated than the others: Supplemental Security Income (SSI).
SSI beneficiaries are among the most vulnerable members of society, and this benefit is consistent with others distributed by the SSA, implying that they are already receiving other forms of public assistance.
First, who is eligible for SSI benefits? Both children and adult recipients are divided into three categories:
- Those with little or no income
- Those with little or no resources
- A disability, blindness, or are age 65 or older
Conditions to get SSI benefits
Because this benefit is so specific to individuals in desperate financial need, the rules must be extremely stringent to ensure that only those in greatest need receive it. Because income is the initial barrier to admittance, SSI applicants cannot earn more than $1,971 from work per month.
Couples who apply on behalf of their children can earn more. For example, if they apply as two adults with a disabled child, the SSI income limit increases to $4,841 per month from their work (including both partners’ income, before taxes and deductions), or less than $2,398 per month from non-work sources such as unemployment or pensions.
The second barrier to entry is assets or resources, vehicles, money in bank accounts, and other things that can be converted into cash other than personal belongings, which must not exceed $2,000 for individuals and $3,000 for couples, though parents applying on behalf of children may face different limits.
Finally, age is a factor, as this benefit is intended to assist those with limited resources, therefore young is advantageous. Those aged 64 and younger must have a handicap that will prevent them from working for a year or more, result in death, or significantly limit daily activity (for children with impairments).
If you meet these conditions, you must additionally demonstrate that you earned less than $1,550 from work in the month you apply.
If all of these conditions are met, beneficiaries will be entitled to receive a maximum monthly payout of $943 for individuals and $1,415 for couples in 2024, which will rise to $967 and $1,450 the following year.
This is the maximum amount that can be decreased by a variety of circumstances, including a person’s income, their spouse’s income, their living situation, and whether they receive additional assistance from the state in which they live.
The Social Security calendar
To ensure that these payments be as useful as possible, they are delivered to all qualified beneficiaries on the first of each month; however, because the first of each month can fall on a weekend or a National Holiday, SSI recipients have grown accustomed to having their benefit dates adjusted.
The Social Security Administration only distributes benefits on days when banks are open and the US Postal Service delivers mail, therefore if the date falls on one of these days, benefits are given early to ensure they arrive on time.
This is what happens in December, for example, because the first of the month is a Sunday, therefore benefits were delivered on Friday, November 29, this year’s Blanck Friday. The situation will be repeated with January benefits; because New Year’s Day is a holiday, the January SSI payment will be issued on December 31.