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Recipients of the Social Security Administration‘s Supplemental Security Income (SSI) program are eagerly awaiting their August 2023 SSI payment, which is set to arrive in the coming days. Individual filers can expect to receive up to $914 in their payment.
$914 August 2023 SSI Payment Arrives Soon (Photo: Blufftonsun)
August 2023 SSI Payment Schedule
The upcoming August 2023 SSI payment, scheduled for August 1, marks the first payment for recipients since June. Notably, there were no payments in July due to a unique circumstance, according to the Washington Examiner.
Recipients received their July payment at the end of June since the first of July happened to fall on a weekend.
In September, recipients will experience a two-payment month, with both September’s and October’s payments arriving. October’s payment is set for Friday, September 29, as September 30 is a Saturday and October 1 is a Sunday.
Throughout the year, there are four months during which beneficiaries receive two checks: March, June, September, and December.
This scheduling adjustment is necessary because the first of the month falls on a weekend in April, July, and October. Additionally, January 1 is always considered a holiday. Despite these variations, the adjusted schedule ensures that beneficiaries still receive a total of 12 checks per year.
The amount of money beneficiaries receive depends on their filing status. Individual filers can receive a maximum of $914 every month, while eligible couples may receive up to $1,371.
Essential individuals who live with SSI recipients and provide them with necessary care can receive a monthly payment of up to $458, as stated by the SSA. However, not all recipients receive the maximum payout, as individual circumstances and eligibility criteria play a role in determining the payment amount.
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Who Qualifies for August 2023 SSI Payment?
To qualify for the Supplemental Security Income program and receive the August 2023 SSI payment, individuals must be over 65 and meet specific financial requirements.
Additionally, individuals under 65 may qualify if they are partially blind, have a physical or mental condition that significantly limits their daily activities for at least one year, or if the condition is expected to result in death.
The SSI payments were first introduced in January 1974, and since 1975, payment rates have been subject to cost-of-living adjustments (COLA). As per June’s numbers, the COLA for 2024 is currently expected to result in an approximate 3% increase in payment rates.
As the countdown begins for the August 2023 SSI payment, Social Security beneficiaries can anticipate their financial support arriving soon. The SSA’s ongoing commitment to providing crucial assistance to qualified individuals ensures that those in need receive essential financial aid on a regular basis.
