The Social Security Administration does not only pay retirement benefits to beneficiaries based on age or Disability. Thousands of United States citizens may get one of the extra checks the Administration sends out each month.
And these extra checks are only for certain U.S. beneficiaries who meet certain requirements. Two requirements must be met in order to get one of these checks. The most striking thing is that many Social Security beneficiaries are eligible for this benefit and don’t know it.
How to get the extra $500 monthly Social Security check?
The benefit we are talking about is called Supplemental Security Income. This benefit is a type of check that only comes on a monthly basis for the neediest United States citizens. If we take this rule into account, we can better understand the requirements.
On the one hand, it is necessary to have low monthly income, as well as low resources. Therefore, those Americans with lower purchasing power could get this benefit. But that is not all, since there is also a different requirement.
In order to collect the Supplemental Security Income from Social Security, we must be 65 years of age or older or have a disability. This is the only way to qualify for this SSA payment. However, it is not necessary to have a retirement check, but you must meet these two requirements.
How much is the Supplemental Security Income payment?
The average Supplemental Security Income check is currently around $500 per month. But each beneficiary gets a totally different check. The maximum payment is $943, but this does not imply that we can get such a payment.
The money each citizen gets on Supplemental Security Income depends on his or her monthly income. The higher the income, the lower the SSI payment. Social Security can change the amount they send you each month depending on your income.
We may even stop collecting this benefit if it turns out that the Social Security Administration determines that our income is not low. So if that is the case, you could lose your monthly SSI benefit.