In situations where you are unable to work due to a disability, Social Security SSI and SSDI payment date 2024 can be a lifeline to survive. Understanding SSI and SSDI payment date 2024 is very important for people with disabilities living in the United States.
This article provides complete details about the 2024 SSI payment dates and the new SSDI and SSI possible amounts under the COLA for 2025. If you have recently become disabled and are unable to work, you may be worried about your future and how the 2025 COLA will affect SSDI and SSI disability recipients.
SSI and SSDI Payment Dates 2024
The program guarantees a monthly payment to cover basic living expenses. Those who meet the eligibility requirements for SSI payments 2024 may also be eligible to receive Social Security payments. If you pay enough taxes into the program and have enough work experience, you and certain family members may be eligible to receive Social Security benefits. However, it is important to remember that the Social Security payment schedule and SSDI payment date 2024 are not the same. If you need to apply for SSDI due to disability, you can check your statement first. So, if you apply for SSDI in three years and were employed all that time, your benefit should be higher. A 60-year-old person needs 9.5 years of employment to qualify for disability insurance. Some people fear that they will lose their life due to their disability and will no longer be able to financially support their family.
SSI Payment Dates for 6 Months 2024
SSI benefits are often paid on the first of each month. If the first day falls on a Saturday, Sunday, or holiday, the full amount is paid on the previous business day. However, people who started receiving benefits before May 1997 always received their SSI benefits on the third of each month, regardless of whether it was a weekend or holiday.
July: Monday 1st of every month August: Thursday 1st of every month September: Friday August 30th October: Tuesday 1st of every month November: Friday 1st of every month December: Friday November 29th
SSDI payment dates for the next 6 months in 2024
To ensure benefits are sufficient to offset increases in the cost of living, the Social Security Administration changes benefits each year. The Social Security Disability Insurance (SSDI) program saw a 3.2% increase in benefits through 2024. Social Security recipients and those who receive SSDI and SSI have already seen this increase for the entire 2024 fiscal year.
Although the increase is smaller than in the past, it will help recipients cope with rising day-to-day costs. The Social Security Administration (SSA) uses birthdates when determining who is eligible to receive disability benefits, survivor benefits, retirement benefits, and stimulus checks.
COLA 2025 New SSDI and SSI Allowable Amounts
The Social Security Administration will announce the 2025 COLA increase in October, but recipients of SSI and SSDI disability benefits may have some predictions in advance. The 2025 COLA increase may not be as large as many American disability recipients expected. The Senior Citizens League has stated that the cost of living adjustment may be less. They even argue that the 2025 COLA may be as much as 2.57%. As a result, it is much less than the 2024 COLA increase of 3.2%. Both amounts seem small, but there is a big difference when you consider the overall increase over the year, not on a monthly basis. The maximum Social Security Disability Insurance payment is $3,822, but very few people actually receive this amount. The average payment is much more common among users of disability benefits. If your regular SSDI benefit is $1,537 after the 2.57% COLA increase, your new disability benefit may be $1,576. That means disability recipients could receive an extra $39 per month, or $468 per year. In 2024, the average amount received by Supplemental Social Security Income recipients is $698. After the 2025 COLA increase, the new amount could be $715. That means the extra amount would be only about $17 per month, or $204 per year.
How COLA 2025 Affects SSDI and SSI Disability Recipients
The problem is that Social Security bases benefits for office and urban workers on the Consumer Price Index, which may not accurately reflect reality because workers don’t buy the same items as people with disabilities.
Therefore, R-CPI-E (Consumer Price Index for Americans Age 62 and Over) is a better option. It gives you an accurate idea of your needs, as both seniors and disability recipients may have additional medical expenses. Additionally, a lower COLA may mean less purchasing power.
Niamh Prescott has a degree in Mass Communications and an MBA in Finance. She has worked for two media companies and currently runs her own media company.
