The Social Security Administration sends Supplemental Security Income (SSI) checks to thousands of beneficiaries in the United States each month. This benefit is one of the most helpful to Americans. Ultimately, this check is created to help Americans who need it most.
However, the payment of this benefit has a maximum check and it is not possible to get more money beyond that limit. But each year, the Supplemental Security Income (SSI) Administration increases this maximum check thanks to the COLA and in May we will see that 2024 COLA applied to benefits.
What is the maximum Supplemental Security Income (SSI) check in May?
The maximum payment for this benefit in May will be $943. This is the maximum amount that Social Security beneficiaries have been collecting in the last few months of 2024. And the fact is that the application of the 3.2% COLA this year has meant that beneficiaries have been able to get such a high payment of this benefit.
Considering that the maximum Supplemental Security Income (SSI) payment can be almost $1,000, we can be sure that it is a very useful benefit for Americans. And now things may change a bit more due to the new rules that Social Security will apply with respect to rental income to determine the amount of this benefit.
Be that as it may, in May you will be able to get a little as much as $943, which is not bad in most cases. And remember that the payment of this benefit could vary depending on your monthly income. So pay attention to the day of collection to find out the exact amount you will be able to enjoy.
When does the new May Supplemental Security Income (SSI) benefit arrive?
The payment date for this benefit is May 1st, 2024. There are no irregularities in the May Supplemental Security Income (SSI) payment, but we must take into account that in this same month there will be another payment.
On May 31st, the Social Security Administration will send another extra payment of this benefit. Even so, it is true that this payment is really the advance check for the month of June. So there really isn’t an extra payment, but an advance payment.
Both payments can be up to $943, so we could get these two checks plus the retirement benefit before the end of May. Those retirees with Supplemental Security Income (SSI) and Direct Deposit will enjoy a large amount of money this month.