Home Personal Finance SSI payment for February: Who will receive the new payments of up to $914 today?

SSI payment for February: Who will receive the new payments of up to $914 today?

by admin

Today, February 1, millions of Americans who applied for Supplemental Security Income (SSI) are about to receive or have already received their first check of the year. Since the COLA is now 8.7%, those receiving this benefit may see their check increase by up to $73 per month.

That is, if they would normally receive a check for $841, it will now be $941 per month. If you are a couple, the Social Security Administration states that you will receive $1,371 between the two of you.

One point to be clarified about the payments

Claimants received two December payments because January 1, 2023 was a federal holiday and fell on a Sunday. The second payment, December 30, already reflected the adjustment.

Another issue to take into account is that the COLA increase will also affect beneficiaries of the Social Security and Social Security Disability Insurance (SSDI) programs.

As a reminder, SSI was created to help those over 65, as well as the blind and disabled who have little or no income.

Types of income for SSI

There are four types: earned income, unearned income, in-kind income, and estimated income. All of these can be summarized, to keep in mind, that the more income you have, the lower your Social Security benefit will be.

How to apply for SSI

The process can be done on the SSA website, or you can call toll-free 1-800-772-1213 to make an appointment with a Social Security representative. Documents typically requested include your Social Security number, birth certificate, housing information, pay stubs, and other documents relating to your income.

If you are applying because you are blind or disabled, you must also provide information about hospitals and clinics you have visited. Those approved for SSI will receive the cash payment electronically.

Know the SSI Payment Schedule

The Supplemental Security Income (SSI) payment schedule is similar to that for SSDI beneficiaries beginning in 1997. Payments are deposited on the first day of each month (unless there is a holiday).

The SSI payment schedule for the remainder of 2023 is as follows:

  • February 1
  • March 1
  • March 1 March 1
  • May 1
  • June 1
  • June 30
  • August 1st
  • September 1
  • September 29th
  • November 1
  • December 1st
  • December 29th

You may also like

Leave a Comment