Supplemental Security Income updates – Automatic $687 Social Security payments sent out as 2022 check schedule revealed
MILLIONS of cash-strapped parents with kids can automatically get monthly Supplemental Security Income payments worth $687 on average.
Around five million people received SSI checks last month and the scheme is designed to help seniors as well as disabled adults and children.
Checks are usually sent out on the first of every month, and those who receive both social security and SSI receive their payment on the third.
Benefits, worth $687 on average, are available to disabled kids in low-income households so parents can cover their medical costs.
The Supplemental Security Income (SSI) program provides monthly payments to adults and children with a disability or blindness who have income and resources below specific financial limits.
SSI payments are also made to people age 65 and older without disabilities who meet the financial qualifications.
You may be eligible to receive SSI monthly payments even if you are already receiving Social Security disability insurance or retirement benefits.
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Reporting requirements for disabled recipients
Anyone receiving Supplemental Security Income (SSI) for a disability must also report:
- improvement in your medical condition
- when you start or stop work, or have a change in pay or hours worked
- any change in your Ticket to Work status
- any change in your work or Plan to Achieve Self-Support (PASS) expenses
Report changes that may affect your SSI as soon as possible, and no later than 10 days after the end of the month in which the change occurred.
What happens if you don’t report changes?
The federal government says failure to report changes to the Social Security Administration can cause you to be underpaid, or delay payments.
The SSA could also overpay you and require you to pay the money back.
A penalty can be applied that will reduce SSI payment by $25 to $100 for each time you fail to report a change, or you report the change later than 10 days after the end of the month in which the change occurred.
How much more will I get?
Not everyone gets the same SSI amount.
You may get more if you live in a state that adds money to the federal SSI payment.
You may get less if you have other income such as wages, pensions, or Social Security benefits.
You may also get less if someone pays your household expenses or if you live with a spouse and he or she has income.
- Millions getting SSI boost
- Nearly eight million Americans receiving Supplemental Security Income (SSI) are getting more money.
- The monthly payments this year will be greater to reflect the cost-of-living adjustment (COLA) to keep pace with inflation.
Who is eligible for SSI? Continued
You must be a US citizen, nationals of the US, or some noncitizen.
You must also live in one of the 50 states, the District of Columbia, or the Northern Mariana Islands.
The exceptions to this are children of military parent(s) assigned to permanent duty outside the US and certain students temporarily abroad may receive SSI payments outside the US.
Who is eligible for SSI?
Anyone may apply for SSI.
The SSI program provides monthly payments to people who are at least age 65 or blind or disabled.
An applicant must have limited income, such as wages or pensions.
The person must also have limited resources in terms of things you own.
- When do SSI payments go out?
- Those who are claiming Supplemental Security Income (SSI) get theirs on the first of every month regardless of the day.
- However, SSI claimants got their first COLA payments on December 30, 2021, because of the holiday schedule.
- Earnings and assets play a role
- Qualifying for SSI will depend on your earnings and assets.
- To qualify, individuals cannot have more than $2,000 in assets, while couples can have up to $3,000.
- Further, the more you earn the less your SSI benefit will be.
What is the 2022 SSI schedule?
The 2022 payment schedule for SSI is as follows:
- February 1
- March 1
- April 1
- April 29
- June 1
- July 1
- August 1
- September 1
- September 30
- November 1
- December 1
- December 30
- What is the monthly maximum?
- The monthly maximum federal SSI amounts for 2022 are $841 for an eligible individual.
- For an eligible individual with an eligible spouse, the amount is $1,261 a month.
- For an essential person, the amount is $421 a month.
- Recipients did not get a January check
- Because of the holiday schedule, recipients did not get a check on January 1, 2022.
- Instead, the payments were issued on December 30. Recipients received two checks last month.
What is COLA?
The COLA, or cost-of-living adjustment, is intended to offset recent inflation, and a formula is followed to determine how much the amount increases or decreases each year.
Each year, the COLA calculation is based on data from the third quarter from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
If the CPI-W drops or stays the same, Social Security claimants generally do not receive a COLA.
But with the Bureau of Labor confirming a 5.4 percent price increase for the 12-month period that ended in September, Social Security and SSI recipients will see the 5.9 percent rise in COLA in 2022.
- Can you qualify if you have benefits?
- You may still be eligible to receive SSI monthly payments even if you are already receiving Social Security disability insurance or retirement benefits.
- What is SSI?
- The Supplemental Security Income (SSI) program provides monthly payments to adults and children with a disability or blindness who have income and resources below specific financial limits.
- SSI payments are also made to people age 65 and older without disabilities who meet the financial qualifications.
How do I apply?
After checking if you may be eligible for the program, you can then apply for Supplemental Security Income (SSI).
The Social Security Administration website lays out how to apply for benefits for
- How many people benefit from Social Security?
- Social Security benefits currently support 70million Americans, whether they’re elderly or disabled.
- Nearly nine out of 10 individuals aged 65 and older receive the benefits, and they make up around 33 per cent of the income of the elderly.
Who receives SSI payments?
The SSI program provides monthly payments to people who:
- Are at least age 65 or blind or disabled
- Have limited income (wages, pensions, etc.)
- Have limited resources (the things you own)
- Are US citizens, nationals of the US, or some noncitizens
- Reside in one of the 50 states, the District of Columbia, or the Northern Mariana Islands
Residency exemptions are made for children of military parents assigned to permanent duty outside the US, and certain students temporarily abroad may receive SSI payments outside the US, according to the SSA.
- Who is eligible for SSI?
- Anyone may apply for SSI. The SSI program provides monthly payments to people who are at least age 65 or blind or disabled.
- An applicant must have limited income, such as wages or pensions.
- The person must also have limited resources in terms of things you own.
How the government determines the cost of living adjustment (COLA)
The COLA stems from a key measure of consumer inflation from the US Department of Labor’s Bureau of Labor Statistics — the Consumer Price Index — which tracks the price of certain goods and services bought by households.
Inflation soared by 7% in 2021, the biggest year-over-year increase in almost four decades.
The 5.9% COLA increase was first announced in the fall – reflecting the largest increase in SSI benefits in nearly 40 years.