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New Social Security Check Boost Announced for 2024 – Date of Increase

New Social Security Check Boost Announced for 2024 – Date of Increase. On October 1, millions of Supplemental Security Income (SSI) recipients will benefit from a new law that took effect on December 31, 2024. The Social Security Administration (SSA) aims to make adjustments to the SSI program, expanding benefits and removing barriers to accessibility. This change will impact individuals receiving SSI benefits, typically including individuals and children who are blind, disabled, or aged 65 or older with limited resources or income. If you currently qualify for SSI or plan to apply, read on to learn about the new SSI modifications and their impact on participants.

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New Social Security check boost announced for 2024 – Date of increase

A boost will start being given to SSI recipients on December 31, 2024, though.

The Rule Increasing Social Security Benefits for SSI Recipients in 2024

Approximately 7.4 million Americans receive assistance from SSI, which supplements their Social Security benefits to cover expenses. The new law, effective September 30, states that food will no longer be considered in determining eligibility for benefits known as in-kind support and maintenance (ISM). Previously, help with housing, food, or both could be considered unearned income for SSI recipients, potentially reducing payments or altering eligibility.

To qualify for SSI, a person must earn less than $1,971 per month from work. Additionally, the combined resources of an individual or couple must not exceed $2,000 or $3,000, respectively. This typically includes money or other assets convertible to cash, such as stocks, bonds, real estate, and bank accounts.

Seniors’ Benefits Unaffected by the New Social Security Rule

With rising food and grocery prices due to significant inflation, the new rule provides relief for SSI recipients. Thomas Foley, executive director of the National Disability Institute, notes that SSI recipients are among the most food-insecure populations in the country.

The financial security of recipients will increase if the new rule results in fewer overpayments and underpayments of benefits. Consequently, SSI recipients will no longer need to worry about reduced monthly benefits due to groceries or meals received from friends or family.

The Arc, a nonprofit advocacy organization for people with intellectual and developmental disabilities, supports the new rule, which will free up resources for the SSA. Previously, the SSA had to record each instance of a recipient receiving free food, potentially reducing their monthly income by up to a third. This change represents a significant step in addressing one of the most burdensome laws affecting disabled SSI recipients in the U.S. The SSA has announced this as the first of several planned improvements for those applying for and receiving SSI.

How to Apply for the SSI Program to Receive the New Social Security Payment

To apply for SSI, applicants must meet strict medical requirements, including a severe physical or mental disability lasting at least 12 months or resulting in death, with appropriate medical documentation. They must also demonstrate an inability to find meaningful work, regardless of job availability. The SSI program offers Social Security payments of up to $943 for individuals, $1,415 for couples, and an additional $472 for those who qualify for the Essential Person (EP) filing category.

Conclusion

The new rule effective September 30 will significantly impact SSI recipients by removing food from the eligibility criteria for in-kind support and maintenance. This change aims to increase financial security and reduce the burden on recipients, allowing them to receive their full benefits without the worry of reduced payments due to external food support. Stay informed about these updates to ensure you or your loved ones benefit from the latest changes to the SSI program.