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New Batch Of $914 SSI Payments To Arrive In Two Weeks

Social Security Benefits
Social Security Benefits

A new batch of $914 in Supplemental Security Income (SSI) payments is expected to be arriving in two weeks. On February 1, these payments will be the first to be received in 2023.

Supplemental Security Income [Photo: Washington PAVE]

Supplemental Security Income [Photo: Washington PAVE]

On February 1, $914 worth of Supplemental Security Income (SSI) payments will be distributed to the beneficiaries by the Social Security Administration (SSA). This is the first SSI payment to be received in 2023 because payments will not be received this month. The SSA has a schedule for SSI payments being distributed on the first day of the month except if it occurs on a holiday or a weekend. If this happens, the payments will be distributed on the last business day of the prior month instead. This January, since the first day of the month is the New Year holiday, no payments will be received.

According to Xie, this was also the reason why two batches of payments were distributed in December 2022. One payment was distributed on December 1, while the second was on December 30. Nonetheless, the beneficiaries will receive a total of 12 payments yearly. This year, the SSA will also distribute two payments for March, June, September, and December. This is because the months after them start with either a holiday or a weekend.

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What are the SSI Payments

According to Xie, the SSI payments are intended to financially help disabled seniors who have low to no income at all. The payments will provide them with the ability to afford basic needs such as food and shelter. To be eligible for these payments, applicants must be couples or essential persons who live with and care for an SSI beneficiary. Eligible couples will receive $1,371, while essential persons will be receiving $458. This year, the SSA made cost-of-living (COLA) adjustments which will increase payments more than what was distributed in 2022. In comparison, SSI payments will increase by 8.7% more than the $841 received last year.

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