Having a Social Security payment each month ensures United States citizens a steady income. However, sometimes we may find that the United States Government not only sends us our retirement check, but also an extra check. In these cases, the payment gives us some financial relief.
And on the coming 1st of October we will find ourselves with this new payment which can be around $550. The final amount depends on different factors, but what is certain is that we find that the check for this benefit can be up to $943. In the case of getting the maximum payment of the extra Social Security payment we would find ourselves with almost $1,000 more each month.
Who gets the $550 Social Security benefit on October 1st?
Truth be told, there is no extra requirement to be able to get the extra $550 payment on October 1st beyond having Supplemental Security Income accepted. This benefit is a type of check for the neediest Americans. So just having this benefit accepted is more than enough for the Social Security Administration to send us a check.
The amount we get depends on our monthly income. Thus, not all citizens get a check for $550, but it is true that in recent months the average check for this Social Security benefit has been close to that amount. Therefore, if you are eligible for the check you just have to wait to get it on the coming 1st of October.
Eligibility for the extra Social Security payment
Supplemental Security Income checks are only for a specific group of citizens. However, it is true that thousands of citizens who are eligible for the check do not apply for it because they do not know they are eligible. Therefore, it is advisable to check the requirements for this benefit to see if we can get up to $943 more each month.
The requirements for Supplemental Security Income are:
- Have a low monthly income as well as low resources.
- Be age 65 or older or have a disability.
This payment is compatible with all other Social Security checks. Therefore, if you have a Disability payment or an Age Retirement payment, you may also qualify for Supplemental Security Income to supplement your benefit.