Social Security: who will receive $1,450 before the end of the year

Before the end of 2024, Some beneficiaries of the Supplemental Security Income (SSI) program will receive higher payments than usual, with a maximum of up to $1,450 dollars. Not all SSI beneficiaries will receive the same amount. We explain who will qualify for this increase and what factors influence the amount each person will receive.

During 2024, The SSI program provided an average benefit of $698 dollars. Meanwhile, people who had no income or resources, that is, who qualified for the maximum amount, could receive up to $943 dollars as individuals. The last payments of these amounts were sent last Friday, November 29.

These payments will rise to $714 and $967, respectively, by 2025. This increase is due to the update of the cost of living adjustment (COLA), which for next year will be only 2.5%. This implies a small increase in the payments that many beneficiaries will receive next year. Although the increase is moderate, it represents an improvement in the quality of life for many families and seniors.

For married couples that both receive SSI benefits, The maximum payment amount in 2025 could reach up to $1,450 dollars. This is a significant change from the amount they currently receive of $1,415.

So if payments will increase by 2025, why will married couples still receive an increased SSI deposit this year? This is because on January 1, 2025, the day the first payment of the year is sent, It is considered a holiday and for this reason it is brought forward to Tuesday, December 31.

It is important to note that this payment is not an extra SSI deposit or additional bonus. Although some beneficiaries may receive two payments a month, one corresponds to the following month and is advanced to ensure no missed payments due to holidays.

Also people considered essentialwhich are those who care for the elderly or disabled, they will receive up to $484 dollars. This adjustment depends on the financial situation of each beneficiary, since not everyone has the same needs or income.

SSI payments also vary depending on the age and type of beneficiary. For example, people over 65 years of age receive, on average, about $575. This is because most of them also receive other Social Security benefits, which can reduce the total amount they receive from SSI. On the other hand, those under 18 years of age usually receive more, reaching approximately $818 in November 2024. This amount will increase slightly with the 2025 COLA adjustment.

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