Upcoming double payment from Social Security – In August, you will receive checks for $943 and $4,873

In less than three weeks, Supplemental Security Income (SSI) recipients will receive the second Social Security payment of the month. The Social Security Administration (SSA) rescheduled the September 1st payment to Friday, August 30th. Eligible individuals and couples could receive up to $943 and $1,415, respectively. Additionally, some SSI recipients could receive more benefits during the same week, as the SSA will also deliver retirement benefits on Wednesday, August 28th.

Payments

Typically, the SSA delivers five rounds of payments every month. The first two payments are given to SSI recipients and those from the retirement, survivor, and disability insurance (RSDI) program who claimed benefits before May 1997 on the 1st and 3rd days of every month. After these beneficiaries receive their payments, the SSA schedules three additional payments for RSDI beneficiaries who collected benefits after May 1997. These payments are distributed on the second, third, and fourth Wednesdays of the month, based on birth dates.

However, there are months when the regular payment schedule changes due to official payment dates falling on holidays or weekends. For instance, this month will come with an extra SSI payment. Some recipients may be entitled to a double payment from Social Security if they qualify for both SSI and retirement payments.

Eligibility

Some beneficiaries might be unaware, but they could be eligible for both benefits if they have met the full retirement age, have a working history, made Social Security contributions from the retirement program, and meet income and resource thresholds from the SSI program. On average, SSI recipients can receive up to $698, while retirees can receive up to $1,900. Other payment amounts are also available, as detailed below:

Retirement Payment Amounts	Deposit Amount
Before reaching retirement age (62 years old)	$2,710
When reaching retirement age (67 years old)	$3,822
After reaching retirement age (70 years old)	$4,873

SSI Payment Amounts	Monthly Checks
Individual category	$943
Couples category	$1,415
Essential person criteria	$472 additional

Retired workers aiming for the maximum Social Security benefit of $4,873 must complete all retirement conditions, which include paying Social Security taxes based on their maximum taxable earnings. Meeting all requirements from the SSA can be challenging, so it’s recommended to consult a financial advisor or SSA expert for guidance through the process.

Federal Programs

Other federal benefit programs are available for Americans across the country:

Supplemental Nutrition Assistance Program (SNAP): Helps people with modest incomes buy groceries and offers seniors an average monthly benefit of $105. However, nearly half of those eligible do not participate, leaving an estimated 5 million people without food assistance.

Medicare Part D Low-Income Subsidy (LIS, or Extra Help): Lowers out-of-pocket drug costs, projected to cost each beneficiary $5,300 per year. Yet, 2 million eligible individuals do not enroll, costing the government $10.6 billion annually in lost benefits.

Medicare Savings Programs: Pay for a person’s monthly Part B premium. Two to three million people, or $5.94 billion in missed payments, reportedly miss out on this assistance. Beneficiaries can receive up to $174.70 a month until 2024.

Navigating these federal benefit programs can be complex, but the potential support they offer makes it worth the effort to explore eligibility and apply.

Anticipating the upcoming double payments can provide significant financial relief. Ensuring you know your eligibility and seeking professional advice can help you maximize your benefits. Always keep an eye on the official payment schedule for the most accurate information.

FAQs