People in the United States who get SSI get their money every month. Most of the time, these people get their payments on time every month.
There are, however, times when changes to the calendar make it possible to get more than one payment in the same month. This mostly happens when holidays or weekends change the normal deposit schedule.
For people who get SSI, December 2024 will be a special month because they will be able to get two payments in one month. There are some problems with the calendar, but this is also because of the cost-of-living adjustment (COLA) that will start in January 2025.
The COLA, which is 2.5% this year, is meant to keep beneficiaries’ purchasing power steady in the face of inflation. This means that program payments will go up.
To get a better idea of what is going on, let us look at how the payments are set up so that both checks arrive in December.
Also, it is important to know how the COLA changes the amounts of SSI, which is a very important program for millions of people who are struggling financially.
How to get two SSI checks in December?
To make sure you get two SSI checks in December 2024, you need to think about two important things: the payment method and the timing.
- November check received in December. The first payment beneficiaries may get in December corresponds to the deposit scheduled for November 29, 2024. This payment is technically the payment for the month of December. Those who do not have Direct Deposit activated will get their check in early December.
- January check advanced to December. The second check will be the January 2025 SSI check , scheduled to be mailed on the 31st December 2024. This payment will include the COLA increase and will be reflected in a higher amount for beneficiaries. Those who have Direct Deposit activated will be able to access this payment on the same day of mailing, thus ensuring both checks within the month of December.
Direct Deposit should be set up between the first and second checks to make the process run more smoothly and make sure that both payments arrive in the same month.
The beneficiaries will get both payments in equal amounts, but on slightly different dates if this change is not made. That being said, you should not worry if you can not change the payment method in time.
Why does SSI increase with the COLA?
The cost-of-living adjustment (COLA) is something that the Social Security Administration does every year to protect the purchasing power of people who get SSI and other similar programs.
The Consumer Price Index (CPI) is used to figure out this change. The CPI tracks changes in the prices of basic goods and services.
When it comes to 2025, the COLA will be 2.5%, which means that SSI payments will go up by the same amount. As an example:
- The maximum payment for individuals, which is currently $ 943, will increase to $ 967.
- For couples, the maximum amount will increase from $1,415 to $1,450.
Even though these increases may not seem like much, they are a big help for people who depend on SSI for things like food, shelter, and medical care.
Additionally, the COLA makes sure that benefits keep their value in the face of inflation, which stops them from slowly losing their purchasing power over time.
The fact that SSI went up because of the COLA shows how important this program is for the defenseless people in the US. Beneficiaries can get the most out of these important resources if they plan ahead and know when they will be paid, especially in December, which is a very important month.