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Social Security Update: $914 Supplemental Security Income Benefits Arriving Today!

Social Security Benefits [Photo: The Motley Fool]
Social Security Benefits [Photo: The Motley Fool]

$914 in Supplemental Security Income benefits will be arriving to the beneficiaries today. These benefits are the second payment the Social Security Administration distributed this month, says Notheis.

Social Security Benefits

Social Security Benefits

Today is finally the day the $914 worth of Supplemental Security Income (SSI) benefits will arrive. These benefits are the second payment to come from the Social Security Administration (SSA) this month. The SSI distributed double payments this December because the first day of January is New Year’s Day which is a national holiday. According to SSA, both payments will add up to a total of $1,755 for December.

The SSA distributes a total of 12 SSI payments every year to guarantee that beneficiaries will receive payment every month. However, when the first day of a month falls on a weekend or a holiday, like the New Year’s Day in January, the payments are distributed on the last weekday of the previous month. In 2023, the SSA will distribute double payments in the months of March, June, September, and December because the months they follow begin on either a weekend or a holiday.

Who is eligible for these social security benefits?

According to Notheis, to be eligible, essential persons must live with an SSI beneficiary and provide necessary care to them. In return, they will receive $458. Couples who are SSI beneficiaries will also receive $1,371, says SSA. The second payment arriving today is somewhat higher than the first payment distributed earlier this month because of the cost-of-living adjustment (COLA) made by the SSA. The COLA will also increase the payments to be distributed in 2023 by 8.3%. This adjustment is the biggest one SSA has ever made yet since 1981.

 

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