Written By: Anushka
Starting in 2024, Social Security, SSI, and SSDI recipients will receive an additional $440 monthly to help with living costs.
Recipients must be 65 or older, disabled, or blind, with limited income and resources. Single applicants can have up to $2,000 in assets, while couples can have up to $3,000.
The extra $440 will be included in the monthly benefits, increasing the average benefit from $1,827 to $1,907 and the maximum from $4,555 to $4,995.
The increase will take effect in 2024, with the exact payment dates to be announced by the SSA.
The SSA adjusts benefits to match inflation and rising living costs, ensuring recipients can manage their expenses better.
This increase aims to help millions of Americans better cope with rising expenses, improving their quality of life.