The Social Security Administration sends many different checks to senior citizens of the United States. Each check is totally different and some Americans may only get one payment a month while others may get two payments to supplement their retirement. If you are one of the beneficiaries receiving two monthly payments, you could have a check for $550 in just a few weeks.
This does not mean that you will get that amount for sure. Each payment of this extra benefit is completely individual, so each senior enjoys a different amount. In addition, this particular payment can change from month to month depending on the characteristics of each citizen. So one month we might get $550 and another month the maximum of $943, for example.
In the case that we have accepted this benefit, called Supplemental Security Income, we will get a check every month on the 1st, except for exceptions. In the current month of January, for example, the Social Security Administration did not send the check on the 1st, but sent it in advance on the 29th of last month. But these are irregularities and it is customary to get it on the 1st of each month.
How can seniors get the $550 Social Security payment?
In order to get this payment on the 1st of February they must have their Supplemental Security Income check accepted. This benefit is not available to all citizens, since it is necessary to meet certain requirements to obtain it. Likewise, it is not mandatory to have a Social Security benefit if we want to obtain this payment, since they are totally independent.
But in the case that we have it accepted we will be able to enjoy every new month a new check with a maximum of 943 dollars in this year 2024. This amount has increased with respect to 2023 thanks to the COLA, and is that last year we could get a maximum of $914 each month. All seniors have seen this increase in both SSI and Social Security checks.
Remember that the amount of this benefit depends directly on the individual situation of each American. This check is not for Americans to have a lot of money, but to have enough money to be able to pay all their bills and monthly expenses. Therefore, you already know that if you have this benefit accepted you will be able to get an average payment of $550 next February 1st.
Eligibility for Supplemental Security Income
There are two main requirements for a senior to acquire a monthly Supplemental Security Income check from Social Security. Also, it is not mandatory to be a senior, as there is another group that can also obtain this benefit.
The mandatory requirements for this check are:
- Being 65 years of age or older or having a disability. If we have a disability we can get the Supplemental Security Income payment without being 65 years old.
- Have a low monthly income, as well as low resources. The Social Security Administration does a review of each application received, so we must provide all of our financial information.
The final check we get, if we have the benefit accepted, will have a different amount depending on our income and resources. That is why a senior can reach $943 with this check or can collect much less. Each case is totally individual.