In a significant boost for beneficiaries of the Supplemental Security Income (SSI) program, the Social Security Administration (SSA) has confirmed an additional Social Security payment worth over $1,000 in August. According to reports by La Grada News on Sunday, August 4, 2024, this extra payment is set to bring considerable relief to those who qualify for the SSI program, with the potential for recipients to receive up to $2,800 in total benefits due to the double payment in August.
The unusual timing of this extra payment is due to the first of September falling on a weekend. To ensure recipients are not affected by the weekend, the SSA will issue a double payment: one on August 1 and another on August 30. The SSA typically schedules payments to be made on the first day of the month; however, when this day falls on a weekend, payments are moved to the last business day of the preceding month. This means that August’s payments will cover not only the regular monthly amount but also include an additional payment to cover September’s benefits, as September 1 falls on a Sunday.
For those keeping track, here are the scheduled SSI payment dates for the remainder of the year: Monday, July 1; Thursday, August 1; Friday, August 30 (covering September); Tuesday, October 1; Friday, November 1; and Friday, November 29 (covering December). These dates reflect the SSA’s approach to managing payments around weekends and federal holidays, ensuring that beneficiaries receive their funds without unnecessary delays.
The extra $1,000 payment in August will significantly increase the total benefits for many SSI recipients. Generally, SSI beneficiaries include low-income individuals who are blind, 65 years of age or older, or have qualifying disabilities. For August, recipients will see the following payments: Individuals will receive up to $943 and couples up to $1,415. With the extra payment, individuals will receive $1,316, and couples will get up to $2,830, effectively doubling their regular payments for the month.
In addition to this month’s boost, the SSA has announced upcoming changes that may impact SSI payments. Starting September 30, a new rule will broaden the definition of a household eligible for public assistance. This change could lead to more people qualifying for SSI benefits and potentially increase monthly income for some recipients.
The SSA is also expected to adjust payments later in the year to reflect changes in the cost-of-living adjustment (COLA). Keep an eye out for news on these adjustments as they could further impact your benefit amounts.
If you do not receive your double SSI payment on the scheduled date, the SSA advises waiting at least three mail days before reaching out. Direct deposit payments are usually processed on time, but the exact arrival time may vary depending on your bank’s processing schedule.
For more detailed information about your SSI benefits and payment schedule, refer to the SSA’s official announcements or your “My Social Security Account” for up-to-date details and adjustments. This additional payment is a welcome relief for many, providing a financial cushion and helping to alleviate some of the stress associated with monthly budgeting.