Social Security update: Direct payment worth $914 arrives today

Millions of Supplemental Security Income beneficiaries received November’s only SSI installment from the Social Security Administration on Wednesday, marking the first of such payments since September.

The payments are worth up to $914 for individual filers and normally go out on the first of the month, but October’s check went out in September because of a kink in the SSA’s schedule due to Oct. 1 falling on a weekend. This made two checks go out in September to ensure recipients were paid by the first of the month.

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In order to qualify for the payments, recipients need to be at least 65 and meet certain financial requirements. Some people under the age of 65 could still qualify for the payments if they are at least partially blind or have a physical or mental disability that severely limits their daily activities for at least a year or if the condition is expected to result in death.

The payment amount for beneficiaries varies depending on their status. For individuals, the rate for payments is $914 per month. The rate for eligible couples for monthly payments is a total of $1,371. Essential persons, who live with someone receiving SSI and provide them with necessary care, receive a monthly payment rate of $458.

Children could also be eligible for SSI payments if they are at least partially blind or have a physical or mental condition that seriously limits their activities for at least a year. Children could also receive SSI if their parents do not receive SSI benefits or if they have limited income and savings.

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The monthly benefit amount is expected to rise by 3.2% next year, according to the administration. It will also rise by the same percentage for regular retirement payments, which are separate from SSI payments. Regular retirement payments can be received in addition to the supplemental aid for seniors who qualify for both.

Not every recipient will receive the maximum payment. Filers can see a personalized estimate through the SSA’s calculator.