WPBN: Through an early payment that is set to take place on December 31st, 2024, millions of people in the United States who receive Supplemental Security Income (SSI) will receive a considerable boost to their financial situation.
This particular payment, along with the other Social Security payments, was impacted by the Cost of Living Adjustment (COLA) that was adopted by the Social Security Administration (SSA).
This adjustment will enable beneficiaries to receive a greater amount of money in comparison to the amount they received in the prior months. Beneficiaries will be able to better manage their spending during the holiday season and avoid any delays that may occur as a result of the New Year vacation, which is why the decision to advance this payment was made.
The rationale behind the extension of an SSI payment till December 31
Unless the first day of the month falls on a weekend or holiday, Social Security Disability Insurance (SSI) payments are dispatched on the first day of each and every month.
As a result of this circumstance, the agency will advance the payment by the following working day. The payment was supposed to be made on the last day of the previous year, but it was postponed because January 1, 2025 is a national holiday.
In particular, during a month in which it is common to have additional expenses associated with celebrations related to Christmas and new year, this measure ensures that beneficiaries do not face delays in receiving their funds.
This is really important for those Americans who depend on this income to cover basic needs, it is especially important during this month.
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Criteria to meet in order to qualify as an SSI beneficiary
The Supplemental Security Income (SSI) is not available to everyone who is eligible for other Social Security payments. The qualifying requirements for this specific program, which is intended to assist those in need, center on the applicant’s financial status and personal circumstances.
A person must be 65 years of age or older, blind, or disabled in order to be eligible. They must also have restricted financial resources, which means that the SSA has imposed limits on their assets and income. Except for the primary residence and a car, this also covers the value of real estate and other assets.
In addition to being US citizens or legal residents, candidates must apply to the SSA to have their personal and financial circumstances assessed in order to be eligible for SSI. Verification of the condition of blindness or handicap, if relevant, is part of this review procedure. It also looks at income sources.
To make sure that assistance reaches those who need it most, the SSA is in charge of assessing eligibility and benefit amounts based on each applicant’s unique circumstances.
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You can visit the closest SSA office or give customer service representatives a call at 1-800-772-1213 if you believe you are eligible for SSI. They would be pleased to assist you in starting the application process.
Recall that the fundamental tenets of Social Security are that no one goes hungry or is in need and that each American who has paid into the system gets what they are entitled to.
