Recipients of Supplemental Security Income are just 12 days away from their first of two payments to be delivered in the month of December because of a scheduling quirk, with the checks being worth a combined total of $1,755.
The first check is to be sent out to eligible beneficiaries on Dec. 1, with the next of the monthly payments being delivered on Dec. 30 for those same recipients.
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The Social Security Administration issues monthly SSI checks the business day prior to months that begin on a weekend or holiday to ensure recipients have the check by the first of the month, per the agency.
This phenomenon results in beneficiaries receiving two checks in the same calendar month multiple times a year. However, recipients will still only receive a total of 12 checks for the year.
The SSI payment for January 2023 will be delivered on Friday, Dec. 30, 2022, because Jan. 1, 2023, falls on a Sunday this year. The January payment is always delivered early because New Year’s Day is a federal holiday.
The first payment in December will be set at 2022 rates, but the second payment, which is technically the January check, will be at 2023 rates set by the Social Security Administration. The increases are part of the yearly cost of living adjustments to make sure Social Security payments keep pace with inflation.
In 2023, there will be four months with two payments under the same month: March, June, September, and December. This is because the first of the month falls on a weekend in April, July, and October.
For individuals, the rate for 2022 payments is $841, while 2023 payments will be set at $914 per month. The rate for eligible couples for monthly payments in 2022 is $1,261, and the rate for 2023 is set at $1,371. Essential persons, people who live with someone receiving SSI and provide them with necessary care, have a monthly payment rate of $421 for 2022 and will have a rate of $458 in 2023.
SSI payments were first issued by the Social Security Administration in January 1974, with payment rates increasing for cost of living adjustments since 1975, according to the agency.
Some estimates say Social Security insolvency will occur in 2034 unless acted upon by Congress.