Social Security update: July direct payment worth $943 goes out in 16 days

Those who receive Supplemental Security Income payments are set to get their monthly checks worth up to $943 for individual filers in 16 days.

On July 1, the SSI payment from the Social Security Administration will be issued to eligible citizens, in accordance with the SSA mandate that benefits must be delivered to recipients by the first day of the month.

This requirement for recipients to get their checks by the first of the month means that when the first day of a month falls on a weekend or a holiday, the Social Security Administration issues SSI checks the business day prior. For the remainder of 2024, this will happen for payments scheduled for September and December.

The amount that SSI checks are worth for beneficiaries depends on their status, with individual filers getting monthly $914 payments and eligible couples receiving $1,415 payments per month. Essential persons, who are people who live with people receiving SSI and provide them with necessary care, get monthly payments of $472 from the program.

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The first SSI payments were issued by the SSA in January 1974, with payment rates increasing for cost of living adjustments since 1975, per the agency.

Supplemental Security Income payments are different from other other payments offered by the SSA. Regular Social Security payments are issued on a different schedule each month from SSI payments and are dependent on a recipient’s day of birth.