The Social Security Administration (SSA) will issue double payments averaging $1,394. Here’s what you need to know about these upcoming disbursements.
In the first week of August, Supplemental Security Income (SSI) recipients will receive an average payment of $697. On August 3rd, beneficiaries of the Retirement and Disability Insurance (RSDI) program will get checks averaging $1,916. Actual amounts depend on individual circumstances.
Who can receive double SSI payments?
If you receive SSI on August 1, 2024, you may also get a second SSI payment on August 30. This covers September’s payment. If you qualify for both SSI and Social Security, you could receive a third payment on August 3 when SSDI or retirement benefits are sent.
Maximum Monthly Social Security Benefits
The maximum monthly Social Security benefit depends on the age you start claiming:
- At age 62 in 2024, the max benefit is $2,710 per month.
- At full retirement age (66-67), it’s $3,822 per month.
- At age 70, the max benefit increases to $4,873 per month.
SSA’s Role and Programs
The SSA administers various programs, including retirement benefits, SSDI, survivor benefits, and spousal benefits. It also handles Social Security numbers and manages the trust funds supporting these benefits.
Supplemental Security Income (SSI) Payments
Individuals who qualify for SSI will receive up to $943 per month. Eligible couples can receive up to $1,415, and those meeting essential person criteria get an additional $472.
After the July 1 payment, SSI recipients will receive their next checks on August 1 and August 30.
Switching Between SSDI and SSI
Beneficiaries can switch between SSDI and SSI, which may affect their payments:
- SSDI is based on work history and Social Security contributions.
- SSI is needs-based for those with limited income and resources.
Switching from SSDI to SSI might reduce the overall benefit amount, while switching from SSI to SSDI could result in higher benefits. However, increased SSDI income may disqualify someone from SSI.
Reporting Changes and Reviews
Beneficiaries must report changes in income, resources, living arrangements, or marital status to the SSA. The agency conducts periodic reviews to ensure eligibility and proper payment amounts through Redeterminations and Continuing Disability Reviews (CDRs).
by Yana Keller
