In most cases, the Social Security payment ends up being the primary or sole source of income for many Americans. Although their position is difficult, this program is a bright spot that encourages them to keep going and work toward a better tomorrow. If you qualify for Supplemental Security Income (SSI) payments, check here to see when you will receive the next $1,400 check, which will be issued within hours.
What program is in charge of this Social Security payment?
This new Social Security payment will be made through the Supplemental Security Income program, also known as SSI. The SSI program is a federal program that operates in all 50 states to assist those who do not have access to additional resources. It is managed by a government body called the Social Security Administration (SSA), which has been in operation since 1974, following its foundation by law in 1972. According to figures from April 2024, the initiative has reached more than 72 million people in its target population.
Essentially, this initiative seeks to provide a monthly payment to all eligible Social Security beneficiaries who meet the requirements, allowing them to have enough resources to cover their basic needs and make ends meet rather than struggling at the end of the month. However, because it is not a permanent solution, each case has a predetermined duration based on their economic outlook, and the amount will vary depending on what happens to each beneficiary or how much his financial situation changes after the initial period expires and the agency checks again.
Who is eligible for this Social Security payment?
As previously stated, the Social Security payment is determined by each applicant’s economic status. As a result, you will have to go through a fairly organized screening procedure to see if you meet the following requirements:
- Condition 1: You need to be in one of the following groups:
- Have an age of 65 years old (or older).
- Have a visual impairment that makes you considered blind.
- Have you had another condition that qualifies as a disability? For example, a medical condition that limits your function or can result in death has a continuous duration of at least 12 months or more. This condition can apply to an adult or a child. So yes, disabled children can also apply for this benefit.
- Condition 2: Your economic situation is very limited, meaning that:
In addition, your monthly income should not exceed the following basic limits: $1,971 if you are a single adult and $2,915 if you are applying as a couple. Keep in mind that if we’re talking about a child, the income is determined by whether or not the youngster lives with their parents. Likewise, your assets should not exceed $2,000 as an individual or $3,000 as a couple.
When are you going to receive this payment?
The SSA manages a general schedule for the Social Security payment of this program; in this case, it is fairly simple because the payment should be made on the first of every month. However, such a day may fall on a weekend or vacation. To avoid bank delays, the SSA has specified that the Social Security payment be made the day before.
As a result, this second SSI payment from the first of June will be received on May 31, rather than June 1st. This means that there will be two payments in May. Finally, all Social Security claimants should be aware that this program provides a maximum Social Security payment of $943 for an individual, $1,415 for a couple, and $4472 for an essential person. If you wish to learn more about the timetable, visit the SSA homepage.
Read More: Second SSI check of $1,400 to be sent within hours