The Social Security Administration (SSA) has announced that retirees will receive an extra payment from the Supplemental Security Income (SSI) program on New Year’s Eve, because January 1 is a holiday. As a result, SSI beneficiaries will be the first to receive a 2.5% increase in their cost of living adjustment (COLA) benefits for the year 2025. This additional payment will allow beneficiaries to more efficiently organize their expenses during the festive season.
Starting January 3, the SSA will begin issuing new checks with increased benefits for retirees, survivors, and people with disabilities. This guarantees that they will have the necessary resources to meet their daily expenses. This increase by COLA is crucial to mitigate the impact of inflation on the purchasing power of beneficiaries, who frequently face difficulties due to the increase in prices of goods and services.
Details about the extra SSI payment on New Year’s Eve
According to the information provided, SSI program beneficiaries will receive an additional amount on New Year’s Eve. On average, recipients are expected to receive around $715, although the exact amount may vary depending on the recipient’s category. Individuals could receive approximately $967, while eligible couples can access a total of up to $1,450.
Likewise, beneficiaries who qualify as essential persons (EP) will receive an additional $484, increasing the total to $1,451 for individuals and up to $1,934 for couples. It is essential that beneficiaries are aware that they must meet all the requirements established by the SSA to access these monthly payments, in terms of their income and resources.
SSI eligibility criteria for the year 2025
To access SSI benefits, applicants must meet certain conditions, such as being over 65 years old, blind, or disabled. Additionally, applicants are required to present limited income, whether from pensions or employment. It is equally crucial that the applicant’s resources be restricted, that they be citizens or legal residents of the United States, and that they live in one of the 50 states.
The SSA has enabled an online tool that allows interested parties to verify their eligibility for these benefits. This resource is accessible and easy to use, allowing applicants to register their intention to apply and set a “protective filing date.” This procedure, which takes only five to ten minutes, can influence the date from which you will receive payments if your application is approved. In some cases, there is also the possibility of receiving retroactive payments, depending on individual circumstances, although these types of occurrences are not common.
Income limits to qualify for SSI in the United States
To qualify for SSI, any form of income, whether in cash or in kind, that the applicant receives and that can be used for food or housing expenses is considered. The applicant’s monthly income is a determining factor in evaluating his or her eligibility. The SSA does not take into account certain types of earned income when determining the payment amount. This implies that applicants can have income higher than the established limits if a part of this comes from salaries.
In specific terms, income must not exceed $1,971 per month if it comes only from salaries, and $963 if it comes from other sources. For income-only couples, the monthly limit is $2,915. For couples whose income is not derived from work, the maximum SSI benefits they can receive is $1,435. The SSA will evaluate all reported income to establish eligibility, although certain payments will not be considered in this evaluation.