Supplemental Security Income updates – Social Security payment schedule for 2022 revealed as January benefits deposited


SOCIAL Security recipients should have received their January benefits already, and the payment schedule for the remainder of 2022 is now available.

Those on Social Security Disability Insurance (SSDI) generally follow the same schedule, which you can find here.

Meanwhile, millions of Americans can expect a new cash boost within days.

Supplemental Security Income (SSI) recipients have an $821 boost on the way to them.

SSI claimants got two checks in December reflecting the new cost-of-living adjustment (COLA) because of the holiday schedule, and they have another one coming on February 1.

According to the Social Security Administration (SSA), the monthly maximum for SSI is now $841 per month for an individual in 2022, compared to $794 in 2021.

The Supplemental Security Income (SSI) program provides monthly payments to adults and children with a disability or blindness who have income and resources below specific financial limits.

SSI payments are also made to people age 65 and older without disabilities who meet the financial qualifications.

You may be eligible to receive SSI monthly payments even if you are already receiving Social Security disability insurance or retirement benefits.

Read our Supplemental Security Income live blog for the latest news and updates…

  • New Medicare portal explained

    A new portal for Medicare claimants is also in the works to help target ways to save money on healthcare and drugs. 

    “You should be able to apply for Social Security benefits without needing to go to a Social Security office and have Medicare proactively reach out to you with the tools you need to manage your health and save money,” President Biden told reporters ahead of signing the order

    Other Americans who get benefits such as food stamps will also find it easier to receive them and to confirm eligibility and income, Bloomberg reported.

    While the order should be positive for benefit claimants across the US, it’s not yet clear when the measures will be implemented.

  • Faster access to Social Security benefits

    An executive order signed by President Joe Biden aims to help Americans get government benefits, including Social Security and food stamps, faster. 

    The order signed by President Biden on December 13 will require the Internal Revenue Service (IRS) to call back Americans rather than placing them on hold. 

    Social Security benefit seekers will also get a new online tool that aims to cut wait times.

  • What are delayed retirement credits?

    If you wait until age 70 to start your benefits, the SSA will increase your benefit because you earned “delayed retirement credits.”

    The retirement benefits are then paid out until you die.

    The age you begin receiving your retirement benefit affects how much your monthly benefits will be. 

    You can begin getting Social Security retirement benefits as early as age 62, but it will reduce your benefits by as much as 30percent below what you would get if you waited to retire until your full retirement age.

    If you wait until your full retirement age (66 for most people), you will get your full benefit. 

  • What do disabled recipients need to report to the government?

    Anyone receiving Supplemental Security Income (SSI) for a disability must also report:

    Report changes that may affect your SSI as soon as possible, and no later than 10 days after the end of the month in which the change occurred.

  • When was the first COLA?

    Cost-of-living adjustments began when legislation was passed in 1973.

    The intention is to use COLAs for Social Security and Supplemental Security Income (SSI) benefits to keep up with inflation rates, according to the Social Security Administration.

  • What is the cost-of-living adjustment (COLA)?

    The COLA, or cost-of-living adjustment, is intended to offset recent inflation, and a formula is followed to determine how much the amount increases or decreases each year.

    Each year, the COLA calculation is based on data from the third quarter from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

    If the CPI-W drops or stays the same, Social Security claimants generally do not receive a COLA.

    But with the Bureau of Labor confirming a 5.4 percent price increase for the 12-month period that ended in September, Social Security and SSI recipients will see the 5.9 percent rise in COLA in 2022.

  • Social Security and SSDI payment schedules depend on birthdays

    Anyone whose birthday falls between the 1st and the 10th of a month can expect to get their money on the second Wednesday of each month.

    Those whose birthday fall between the 11th and the 20th of the month can expect to receive their benefits on the third Wednesday of each month.

    For anyone with a birthday that falls between the 21st and the 31st of the month can expect to get their payment on the fourth Wednesday of each month.

  • How much are monthly SSI payments?

    The monthly maximum federal SSI amounts for 2022 are $841 for an eligible individual.

    For an eligible individual with an eligible spouse, the amount is $1,261 a month.

    For an essential person, the amount is $421 a month.

  • Who qualifies for SSI payments?

    Qualifying for SSI will depend on your earnings and assets.

    To qualify, individuals cannot have more than $2,000 in assets, while couples can have up to $3,000.

    Further, the more you earn the less your SSI benefit will be.

  • Millions will get an SSI boost for 2022

    Nearly 8million Americans receiving Supplemental Security Income (SSI) are getting more money.

    The monthly payments this year will be greater to reflect the cost-of-living adjustment (COLA) to keep pace with inflation.

  • January SSI checks went out early

    Because of the holiday schedule, recipients did not get a check on January 1, 2022.

    Instead, the payments were issued on December 30. Recipients received two checks last month.

  • What is the SSI schedule for 2022?

    The 2022 payment schedule for SSI is as follows:

    • February 1
    • March 1
    • April 1
    • April 29
    • June 1
    • July 1
    • August 1
    • September 1
    • September 30
    • November 1
    • December 1
    • December 30
  • When should you apply?

    The SSA recommends applying as soon as possible, because the agency can’t pay benefits for time periods earlier than the effective date of your application.

    If you call to make an appointment to apply then file an application within 60 days, the SSA may use the date of your call as your application filing date.

    If you are in a public institution but will leave within a few months, you may not be eligible for SSI until you leave. 

    The SSA recommends checking with the institution to see if you are able to apply before you leave so that SSI benefits can begin quickly after you leave.

    Then contact the agency about filing an application under the “prerelease procedure.

  • Who is eligible for SSI? Continued 

    You must be a US citizen, nationals of the US, or some noncitizen.

    You must also live in one of the 50 states, the District of Columbia, or the Northern Mariana Islands.

    The exceptions to this are children of military parent(s) assigned to permanent duty outside the US and certain students temporarily abroad may receive SSI payments outside the US.

  • Who is eligible for SSI? 

    Anyone may apply for SSI. 

    The SSI program provides monthly payments to people who are at least age 65 or blind or disabled.

    An applicant must have limited income, such as wages or pensions.

    The person must also have limited resources in terms of things you own.

  • Reporting requirements for disabled recipients

    Anyone receiving Supplemental Security Income (SSI) for a disability must also report:

    Report changes that may affect your SSI as soon as possible, and no later than 10 days after the end of the month in which the change occurred.

  • Earnings and assets play a role

    Qualifying for SSI will depend on your earnings and assets.

    To qualify, individuals cannot have more than $2,000 in assets, while couples can have up to $3,000.

    Further, the more you earn the less your SSI benefit will be.

  • Who is eligible for SSI? Continued 

    You must be a US citizen, nationals of the US, or some noncitizen.

    You must also live in one of the 50 states, the District of Columbia, or the Northern Mariana Islands.

    The exceptions to this are children of military parent(s) assigned to permanent duty outside the US and certain students temporarily abroad may receive SSI payments outside the US.

  • Who is eligible for SSI? 

    Anyone may apply for SSI. 

    The SSI program provides monthly payments to people who are at least age 65 or blind or disabled.

    An applicant must have limited income, such as wages or pensions.

    The person must also have limited resources in terms of things you own.





Source link

Previous post BBC Information journalists resume broadcasts from Russia
Next post BBC Three Channel Boss Fiona Campbell Says It Will “Add Layer Of Audience” – Deadline