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Home»Technology
Technology

What You Need to Know About Potential Increases in SSI Benefits for the Coming Year

May 15, 2024No Comments2 Mins Read
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The Social Security Administration is implementing changes to the Supplemental Security Income (SSI) program that will expand eligibility and increase payments for recipients. The final rule announced on May 9 will update the definition of a public assistance household, allowing more individuals to qualify for benefits and potentially receive higher monthly payments. These changes are aimed at simplifying policies and reducing reporting burdens for those living in public assistance homes, including those receiving benefits from programs like SNAP.

The amount of money SSI recipients may receive each month will depend on their individual situation and whether they qualify for an increase under the new rule. The administration will no longer count income from other household members for those living in a public assistance household, potentially resulting in higher payments. It is uncertain how much payments will go up with the implementation of the new rule, as each recipient’s situation is different.

The final rule also includes changes related to the definition of a public assistance household, now including households receiving Supplemental Nutrition Assistance Program benefits. Not all household members will be required to receive benefits to qualify, benefiting SSI beneficiaries living in households where only some members receive assistance. The rule also eliminates food from In-Kind Support and Maintenance calculations and expands the SSI rental subsidy policy nationwide to reduce the impact of rental assistance on eligibility and payment amount.

The implementation of the final rule is set to take effect on September 30, 2024, with potential payment increases starting in October. Individuals eligible for SSI benefits include those aged 65 or older, visually impaired or disabled individuals, those with limited income and resources, US citizens and nationals, and certain students temporarily abroad. It is essential to understand the eligibility criteria and potential changes to SSI benefits to ensure continued access to critical financial support.

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