2024 SSI/SSDI Update: $301 Raise, Deposit Dates, and Eligibility Explained!

As inflation continues to rise and living costs increase, many recipients of Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI) are wondering about possible changes to their benefits in 2024. Rumors about a $301 per month increase have been circulating, but it’s important to clarify the actual changes, eligibility requirements, and when beneficiaries can expect adjustments to their payments.

$301/Month Raise 2024 For SSI, SSDI

Details	Information
Eligibility	Low-income U.S. citizens aged 65 and older or individuals with disabilities
Amount Increase	No confirmed $301 monthly raise; however, a 3.2% Cost-of-Living Adjustment (COLA) is set for 2024
SSI Payment for Individuals	$943 per month for singles, $1,415 for couples
SSDI Maximum Payment	$3,822 per month based on work history
Payment Dates	Low-income U.S. citizens aged 65 and older, or individuals with disabilities
Official Source	Social Security Administration (SSA)

$301 Monthly Increase Claim

While some reports have claimed a $301 per month raise for SSI and SSDI recipients, this information is not entirely accurate. The real change comes from the annual Cost-of-Living Adjustment (COLA), which adjusts SSI and SSDI benefits to reflect inflation. For 2024, a 3.2% COLA increase has been confirmed, and this will take effect starting January 2024.

For example, an individual who currently receives $943 per month in SSI will see an increase of approximately $30, bringing their monthly benefit to around $973. This increase helps recipients keep up with the rising costs of essentials like food, housing, and healthcare.

Who is Eligible for SSI and SSDI in 2024?

To qualify for SSI or SSDI benefits, individuals must meet certain criteria. These criteria vary for each program.

• SSI Eligibility:
  • Age: SSI is primarily available to U.S. citizens aged 65 and older. However, younger individuals with disabilities may also qualify.
  • Income Limits: For 2024, SSI recipients must have a family income at or below 130% of the Federal Poverty Level (FPL). This ensures that SSI is available to those with the greatest financial need.
• SSDI Eligibility:
  • Disability Status: To qualify for SSDI, individuals must have a disability that prevents them from working. They must also have accumulated sufficient work credits during their employment history. This can include people who have worked in jobs where Social Security taxes were paid.

SSI and SSDI Payment Dates for 2024

Payments for SSI and SSDI are distributed on specific schedules, depending on the recipient’s birthdate or the date they began receiving benefits. Here’s how the payment schedule breaks down:

• SSI Payments: These are issued on the 1st of every month.
• SSDI Payments: SSDI payments are distributed based on your birthdate:
  • If your birthdate is from the 1st to the 10th of the month, you’ll be paid on the second Wednesday of the month.
  • If your birthdate is from the 11th to the 20th, payments will arrive on the third Wednesday.
  • If your birthdate falls between the 21st and the 31st, your payment will be made on the fourth Wednesday.

How to Claim the 2024 COLA Increase

Beneficiaries do not need to take any additional steps to claim the 3.2% COLA increase. This adjustment will be automatically applied to both SSI and SSDI payments starting in January 2024. For those already receiving benefits, the increase will be reflected in their monthly payments, whether they are deposited into bank accounts or received via checks.

If you are a new applicant or need to update your information, you can complete the necessary application process online through the Social Security Administration (SSA) website. It’s important to ensure that you provide all required documentation—such as proof of income, residency, and disability status—to avoid delays in processing your application.

FAQs About the 2024 SSI and SSDI COLA Increase

1. Is there a $301 monthly raise for SSI and SSDI in 2024?
   • No, there is no $301 raise. The 3.2% COLA increase will be applied to SSI and SSDI payments.
2. How much will SSI recipients receive in 2024?
   • The maximum monthly SSI payment for an individual is $943, while couples can receive up to $1,415. The 3.2% increase will slightly raise these amounts.
3. When will I receive my SSI or SSDI payment in 2024?
   • SSI payments are made on the 1st of each month. SSDI payments are made based on your birthdate, with payments distributed on specific Wednesdays throughout the month.
4. What is the COLA increase, and how does it affect benefits?
   • The COLA is an adjustment made each year to Social Security benefits to account for inflation. In 2024, the COLA increase will be 3.2%, helping recipients keep up with the rising cost of living.

Source

---

Note: Every piece of content is rigorously reviewed by our team of experienced writers and editors to ensure its accuracy. Our writers use credible sources and adhere to strict fact-checking protocols to verify all claims and data before publication. If an error is identified, we promptly correct it and strive for transparency in all updates.