For a large number of U.S. citizens, Social Security payments are critical. Many people live solely on SSA income, so anything related to their payments is always welcomed by most. This time we are talking about Supplemental Security Income (SSI) which in the coming weeks will be arriving in the bank account or Direct Express Card of all recipients. But receiving this Social Security benefit is not possible for everyone. The requirements are very strict.
SSI was born out of the idea of providing financial benefit to people who do not have enough money on Social Security. It doesn’t matter if the Social Security benefit is for retirement or disability. The important thing is that the main requirement to receive SSI is not to earn more money within a maximum. By meeting that requirement, we can apply for this SSA benefit.
Requirements to apply for Social Security SSI
To apply for SSI we need to meet the following minimum requirements:
- Be collecting a Social Security benefit. It does not matter if it is a disability, retirement or blindness benefit. The important thing is that we are collecting that benefit at the time we apply for SSI.
- Not have a high income:
- This means that for an individual person’s income must not exceed $2,000. This income can come from Social Security as well as from jobs, investments, etc.
- For couples, the maximum assets are $3,000.
The next SSI payment
The next SSI payment of up to $841 will take place on August 1. This is a Monday, so there are no problems. If the 1st of the month is a weekend or holiday, it rolls over to the immediately preceding business day. But the month of August has the 1st on a Monday, so on that same day the Social Security Administration will send payments to all SSI recipients.
As for the rest of the year, payments will always be the same. Only the month of October has a small difference. The months of September, November and December you will be able to receive your payment on the 1st, while in the month of October, since the 1st is Saturday, you will receive the money on the previous working day, so in the month of September you will be able to receive your SSI from Social Security twice.
So in September you can have twice as much money, but you have to be careful, because after October you won’t get SSI until November 1. At the end of the day, it’s the same as getting paid once a month, but you’ll be able to pay your bills earlier in October. In this cases, anyway, it could be a good idea knowing perfectly the advanges of US Bank Visa to get some cash back or gift cards to expend in your favorite store.