Pay attention if you get Supplemental Security Income (SSI) benefits. Later this month, you’ll receive your first check, which will include an 8.7% cost-of-living adjustment.
The check you previously received at the beginning of the month is in addition to this payment. You’ll learn why you’re receiving two checks this month down below. The first updated checks for everyone else receiving Social Security benefits will arrive in January 2023.
Why Will The Amount If My SSI Check Increase?
Uncertain about the benefits increase you will receive? For a notice regarding your new benefit amount, check the message center in your My Social Security account. Watch for a letter in the mail with all the information regarding your raise if you missed the Nov. 15 deadline for opening an account.
If you get SSI, here are the reasons for and details on when you might anticipate receiving your first enhanced payment in December. The Social Security payment schedule and Social Security Disability Insurance payment schedule are available here for more information. Additionally, the cost of Medicare’s premiums and deductibles in 2023 is shown below.
When disbursing monthly payments, the Social Security Administration has a set timetable that it adheres to. Payments for SSI recipients are typically given out on the first of every month.
Your payment may not be received on the first of the month for one of two reasons: if a holiday or weekend falls on the regular pay day.
The first day of the month in January 2023 is a holiday and a weekend. When this occurs, the government mails the checks ahead of time on the following working day, in this example a Friday. As a result, you will receive your January 2023 check in December rather than January.
What happens if I am a beneficiary of both SSI and Social Security?
If you receive SSI, you’ll receive a payment with your updated benefit amount on December 30. You receive your first payment of 2023 early because your first increased payment is due on January 1—a holiday and weekend day.
You will only receive your SSI benefit increase in December if you receive Social Security benefits in addition to your SSI.
Your Social Security benefits will increase starting on January 3, a Tuesday. Here is how to apply for Social Security Disability Insurance if you want more details. Here’s how to stop receiving Social Security benefits so that you might receive a larger payment later.
Read more: Social Security payments: Seniors could receive $2,400 yearly!
