On October 1, 2024, Supplemental Security Income (SSI) recipients, including seniors, people with disabilities, and those who are blind, will receive an updated payment.
The Social Security Administration (SSA) has confirmed that this change could boost monthly SSI payments by as much as $131 for over 90,000 people.
Here’s a closer look at who will benefit, how the increase works, and why these changes matter.
Who Qualifies for SSI?
SSI is a federal program designed to help people who have limited income and resources. To qualify, individuals must be:
- Aged 65 or older
- Blind or have a disability
- Meet specific income and resource limits
Both adults and children can receive SSI benefits if they meet the criteria, and all recipients share the same payment date—October 1 in this case.
Which Seniors Will Receive $943 in October?
Some SSI recipients will see a check as high as $943 on October 1, but not everyone qualifies for this amount. The full payment is reserved for those who:
- Receive no reductions: Some beneficiaries may see lower payments due to additional income or assets, which reduce the amount they qualify for.
- Qualify for the full SSI benefit in 2024: Recipients must meet all of the SSA’s eligibility requirements for maximum benefits.
- Remain eligible: Breaking SSA rules, such as having too many assets, can disqualify recipients or lower their payment.
While the $943 maximum payment is possible, the average check is typically lower. For example, seniors aged 65 or older tend to receive $575 on average, and the overall average SSI check is around $698.
Why Are SSI Payments Higher in October?
Several important changes to the SSI program are leading to this increase. One key adjustment involves the In-Kind Support and Maintenance (ISM) rule.
Previously, if recipients received regular help, such as food or housing from others, their payments could be reduced. The SSA has removed this rule, allowing more people to qualify for higher payments.
Another change involves the definition of a public assistance household, which has been broadened to increase SSI eligibility.
This change is making more Americans with low income eligible for the program, which could result in larger payments for those who already qualify.
Additionally, an update to the SSI rental subsidy policy is expanding benefits, particularly for those who receive housing assistance. This expansion means more recipients may see a higher payment each month.
2025 COLA Impact on SSI Payments
The upcoming Cost-of-Living Adjustment (COLA) for 2025 will not take effect until December 31, 2024, but early projections suggest an increase of about 2.57%.
While this is a modest rise compared to previous years, it will still have a positive impact on SSI payments.
For example, seniors currently receiving the full $943 could see their payment increase to around $966 in 2025, thanks to COLA. Likewise, married couples, who can receive up to $1,415 in October 2024, may see that figure rise to $1,450 in the new year.
Key Factors That May Reduce Your SSI Payment
Even though some recipients may qualify for the full $943, many will receive less due to other earnings or money they have.
The SSA uses a formula to calculate how much of your income (including wages, pensions, or any other money) will reduce your SSI payment.
The general rule is that your SSI will decrease by 50 cents for every dollar of additional income you earn. This explains why many recipients receive far less than the maximum payment.
Examples of Reductions:
- If you have extra earnings or other financial resources, your payment could drop below $943.
- The average SSI check for seniors aged 65 or older is $575, well below the maximum due to these reductions.
Changes in SSI Eligibility
Because of the SSA’s recent changes, more Americans with low income are now eligible for SSI.
The updated definitions and rule changes, including the removal of the In-Kind Support and Maintenance rule and the expansion of the rental subsidy policy, are allowing more people to qualify for higher payments.
For those who rely on this program, these changes offer a welcome boost, helping to cover essential costs such as housing, food, and medical expenses.
The changes made by the Social Security Administration will positively impact SSI recipients in October 2024, offering many people an extra $131 per month.
Additionally, the removal of restrictive rules like In-Kind Support and Maintenance opens the door for more Americans to qualify for these benefits.
While most recipients won’t see the full $943, the expanded eligibility and upcoming COLA adjustments provide much-needed financial relief for seniors and those with disabilities.
FAQs
How much will seniors receive from SSI in October 2024?
Seniors can receive up to $943, though the average payment is $575.
Why are SSI payments higher in October 2024?
Changes to the SSI program, such as removing the In-Kind Support and Maintenance rule, have increased payments.
When does the 2025 COLA take effect for SSI?
The 2025 COLA will take effect on December 31, 2024.
How much will SSI increase after the 2025 COLA?
Seniors could see an increase to around $966 in 2025 due to the 2.57% COLA.
Who qualifies for the maximum SSI payment?
Those with no reductions and who meet all SSA rules can receive the maximum payment.
