MILLIONS of Supplemental Security Income beneficiaries will receive the first half of their $1,682 direct payments in one week.
The first of two $841 payments this month will be sent out to SSI recipients on September 1.
Social Security Supplemental Income is a critical payment for retired Americans or those with a disability. About eight million people depend on the benefits.
SSI beneficiaries regularly receive direct payments on the first of every month, and the system works similarly to those who started receiving SSDI benefits on or before 1997.
The second $841 payment will be sent out on September 30, as the first of October lands on the weekend, impacting the schedule.
September will be one of the few months of 2022 when recipients will receive two payments – the other months being April and December.
The remaining payments for 2022 are scheduled for September 1, September 30, November 1, December 1, and finally, December 30.
Who qualifies for SSI?
SSI, run by the Social Security Administration (SSA), aims to help those over 65, as well as blind and disabled people with little or no income.
Along with having a disability, whether you qualify or not depends on your assets.
Individuals can’t have more than $2,000 in assets to meet the requirements, while couples can have up to $3,000.
But the SSA exempts some things you own, which include the following:
- Life insurance policies with a face value of $1,500 or less
- Your car (usually)
- Burial plots for you and members of your immediate family
- Up to $1,500 in burial funds for you and up to $1,500 in burial funds for your spouse
- The home and land where you live
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