Social Security update: February direct payment worth $943 goes out in 30 days

The first Supplemental Security Income payment for 2024, worth up to $943 for individual filers, will be sent to recipients in 30 days.

The payment will be released on Thursday, Feb. 1, 2024, and marks the first payment of the new year because no payment was issued in January. Recipients were given two payments in December instead because of a scheduling kink in the Social Security Administration’s calendar.

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The amount each person receives differs depending on whether a recipient is an individual filer, joint filer, or essential person.

This year, individual filers will receive up to $943 each month, eligible couples will receive up to $1,415, and essential persons, those who live with people receiving SSI payments and provide them with necessary care, will get a monthly payment of $472, according to the SSA. These amounts increased by 3.2% compared to 2023.

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

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SSI payments are given on top of regular Social Security benefits, providing monthly payments to adults and children with blindness or another disability and limited income. To qualify for SSI, a person has to be totally or partially blind or have a “physical or mental condition(s) that very seriously limits their daily activities for a period of 12 months or more or may be expected to result in death.”

Created in 1974, the SSI program seeks to provide extra assistance to society’s most vulnerable members, including elderly, blind, and disabled people. The program was intended to provide an income floor, which state assistance programs would supplement.