SSI Benefit Update: Key Date in September When Social Security Will Revise the Rules

SSI Benefit Update: Key Date in September When Social Security Will Revise the Rules

The Social Security Administration (SSA) has unveiled new modifications that could lead to higher payments for certain Social Security recipients nationwide. This update, affecting Supplemental Security Income (SSI) benefits, introduces changes to the SSA’s rental subsidy policy designed to reduce the negative impact of rental assistance on SSI eligibility and benefit amounts.

SSI offers vital financial support to individuals with disabilities, blindness, or those aged 65 and older with limited income. These monthly payments often supplement Old-Age, Survivors, and Disability Insurance (OASDI) benefits, which may fall short of covering essential living expenses. As of January 2023, approximately 7.4 million people were receiving SSI benefits, with an average monthly payment of $654.

The new rental subsidy policy, already in effect in seven states—Connecticut, Illinois, Indiana, New York, Texas, Vermont, and Wisconsin—will soon be implemented nationwide on September 30, 2024. This policy aims to make it less likely that rental assistance will adversely affect SSI eligibility or payment amounts, potentially increasing benefits for many recipients who do not currently qualify for the maximum payment.

While the policy will not change the maximum SSI payment of $943 for 2024, it is expected to boost payments for some beneficiaries and expand eligibility. SSA Commissioner Martin O’Malley emphasized the importance of the change, stating, “Our mission is to continue to help people access crucial benefits, including SSI. Simplifying and expanding our rental subsidy policy nationwide is another common-sense solution that will improve program equality and reduce administrative burdens.”

This update follows another recent SSI change—the removal of food from In-Kind Support and Maintenance (ISM) calculations. By excluding informal food assistance from ISM, the SSA aims to lessen reporting requirements, reduce payment fluctuations, and minimize errors.

These policy adjustments reflect the SSA’s ongoing efforts to enhance the efficiency and fairness of the SSI program, aiming to better serve those reliant on these benefits to meet their basic needs.

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