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The Social Security Administration (SSA) will be issuing $914 in Supplemental Security Income (SSI) on February 1. In 2023, the SSI will be somewhat higher than what was issued in 2022 because of the cost-of-living adjustment done.
Social Security Benefits
On February 1, the Social Security Administration (SSA) will be issuing $914 worth of Supplemental Security Income (SSI) payments to the beneficiaries. Instead of receiving the payments this January, the beneficiaries will be receiving the payments next month. The beneficiaries have also received double payments last December 2022. One payment was issued on December 1 and the other was on December 30. The payment on December 30 provided as the payment for this month because the first day of January is a New Year holiday.
According to Notheis, the SSA announced that the SSI payments will be issued to beneficiaries on the first day of every month except if it falls on a weekend or a holiday. When this happens, the payments will be issued on the last weekday of the prior month instead. Nonetheless, the beneficiaries will receive a total of 12 payments annually. This year, the SSA will also issue double payments in the months of March, June, September, and December. This is because the months that come after them start with a weekend or a holiday.
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What are the SSI Payments
According to Notheis, the SSA’s SSI payments aim to help seniors with disabilities who have little to no income at all. The payments will provide them the capacity to afford basic needs such as food and shelter. Those who are qualified for these payments are couples and essential persons who live with and offer necessary care to an SSI beneficiary. Beneficiary couples will receive $1,371, while essential persons will get $458. In 2023, the SSI payments will be somewhat higher than what was issued in 2022 because of the cost-of-living adjustment done by the SSA. The SSI payments in 2022 were worth $841 compared to the payments this year which increased by 8.7%.
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