No More $943 and $1,415, New Amounts Announced

According to Vibes.okdiario , The Supplemental Security Income (SSI) program, which benefits over 7.5 million Americans, has announced important changes to its payment structure. As of December 1, 2024, the maximum SSI payment amounts will no longer be available for eligible individuals or couples. The current maximum amounts, which are $943 for individuals and $1,415 for married couples, will be replaced by a 2.5% increase due to the 2025 Cost of Living Adjustment (COLA).

Changes to SSI Payments for January 2025

Social Security has confirmed that the first SSI payment for January 2025 will be issued on December 31, 2024. This payment will be distributed ahead of schedule to ensure that recipients receive their funds before the New Year. This is not an extra payment, but an adjustment made due to the timing of the federal holiday. Payments that fall on a federal holiday are moved to the preceding business day, allowing beneficiaries to receive their checks or direct deposits in advance.

New SSI Payment Amounts for 2025

With the COLA increase, SSI recipients will see their payments rise starting in 2025. The new maximum amounts are:

• Individual: Up to $967 (an increase from $943 in 2024)
• Eligible Married Couples: Up to $1,450 (up from $1,415)
• Essential Person: Up to $484 (up from $472)
• Average Payment: Approximately $714 (up from $697 as of October 2024)

Also Read – Christmas Meal on a Budget: What $975 SNAP Benefits Can and Can’t Buy

Eligibility for SSI Benefits

SSI payments are available to individuals with limited income and resources who also meet specific eligibility criteria. To qualify, you must either be 65 years or older, blind, or have a qualifying disability. The program is designed to assist those with very little or no income.

Understanding COLA and SSI Adjustments

The COLA increase takes place annually and is based on inflation rates. While the COLA typically results in a payment increase, it may also remain unchanged or even decrease in years when inflation is low or negative. However, for 2025, recipients can expect a 2.5% increase, providing some relief against the rising cost of living.

As a reminder, the December 31 payment is an advance for January 2025 and is not an additional or bonus payment. If you’re a current SSI recipient, this increase will provide a higher payment starting next year, but the December 2024 payment will remain based on the old amounts.