In December 2023 it is possible to get the 2024 COLA for United States citizens who meet certain requirements. If they meet these requirements, they will be able to enjoy this annual increase in benefits in advance in the case of Supplemental Security Income in particular. The rest of the citizens who do not have Supplemental Security Income (SSI) will have to wait until January of next year to enjoy the payment.
Therefore, it is necessary for the United States citizen to meet certain conditions to be able to collect this check with the COLA 2024 included. This will mean a 3.2% increase in the payment with respect to that of December 2023. And the fact is that we are actually talking about the check for January 2024, which is why this year’s COLA is included in the amount.
The rest of the benefits will be exactly the same, but over the course of 2024. That is, Supplemental Security Income (SSI) recipients will be able to collect an extra payment in 2023 but the rest will have to wait until the beginning of the year. This makes the January 2024 retirement benefit payment potentially as much as $4,700, a fairly large amount compared to previous years.
HOW TO GET THE EXTRA SSI CHECK WITH COLA 2024 IN DECEMBER?
In order to get this extra benefit it will be necessary to meet two mandatory conditions. Without these conditions we will not be able to get the extra Supplemental Security Income (SSI) payment in December and we will have to wait until January to be able to enjoy the COLA. However, it is true that this payment is due in January, so getting it earlier is an advantage, but it is not necessary.
The two conditions are as follows:
- Have a Supplemental Security Income (SSI) check. The payment must have been accepted earlier. It cannot be in the process of being accepted, in which case we may have to wait another month to get it.
- Activate Direct Deposit as a payment method. This payment method is the key to get the money on the same day that the Administration sends it. In case we do not have this payment method activated, the payment could arrive in the working days after the 1st of January.
With these conditions met we will see a payment of up to $943 on December 29, 2023. This payment will arrive on the added COLA of 2024. However, not all Supplemental Security Income (SSI) payments will carry that amount. What is certain is that these payments will carry an added 3.2% regardless of what amount we are assigned.