As life becomes increasingly expensive, especially for retirees and the disabled, any hike in social security benefits is always welcomed. The Social Security Administration (SSA) recently proposed an extra $600 Social Security payment. This article will cover who is entitled to this payment, when the payment will be made, and what to do in case of delayed payment.
Who is eligible for the extra $600 payment?
To be eligible for this $600 Social Security extra payment, you have to meet this criteria:
- First, one shall meet the age of 62 or become eligible for SSDI – Social Security Disability Insurance.
- Age and disability requirements help the organization focus on funding to protect the most financially needy populations.
Income Criteria
An individual’s income is among the factors upon which UEZ eligibility is highly dependent. The SSA has provided for income restraints since the targets are to assist low-wage earners.
Usually, the income is below 75,000 US dollars, while married couples qualify with a collective income below 150,000 US dollars. This threshold also helps isolate the extra assistance to teachers who may require it to deliver their best performance.
Citizenship Status
Another criterion is that the beneficiaries have to be US citizens or residents. This criterion ensures that the support is given to those who fall within the legal jurisdictions of the U. S. social security system.
Explaining the Cost of Living Adjustment (COLA)
Another example is the $600 additional check that forms part of the Cost of Living Adjustment or COLA. It hopes to adapt the Social Security benefits by inflation levels to retain these benefits’ value. As for FY 2024, the COLA was also raised by 3. 2% because there has been a massive increase in the prices of commodities over the past year.
How COLA Impacts Benefits
The 3.2% stranded in all Social Security benefits this year; $600 additional payment is a specific amount and a one-off payout to help the American public financially. This adjustment assists the beneficiaries in managing the increasing cost of articles that are basic needs such as food, shelter, and medical expenses. Unfortunately, clients often ignore this detail, and the following question arises: When will the payment be made?
Payment Schedule Based on Birth Date
Here, the SSA has provided a precise timetable for the payments made through Social Security. undefined
- Born 1st-10th: The fourth payment is due on the second Wednesday, June 12th.
- Born 11th-20th: Payment on the third Wednesday, June 19th.
- Born 21st-31st: The payment should be made on Wednesday, June 26th.
Special Work Incentives for Beneficiaries And SSI Recipients Before the Welfare Reform of 1997
As for the others who claimed benefits before May 1997, payment will be used to be made on the third of the month. The SSI payments shall be made to all eligible recipients on the 1st of every month. However, for June 2024, it just indicates that SSI recipients will receive an additional $1,000 a month a day early in July because of the extra payment made in May.
If, for any reason, you do not receive your payment or it is not enough, here are some of the things you need to do.
Steps to Follow
If you fail to receive your payment on the stated day, the SSA advises you to wait three more days for the mail to pay before considering any further move. If the listed payment does not materialize, call the SSA helpline at 800 772-1213 Monday through Friday, 8 AM to 7 PM.
Online Tracking
The beneficiaries can track their pay information using the account known as “my Social Security”. You can change your details, view the status of payments, and even decide about your benefits with this online service. Signing up for an account is relatively easy and can be accomplished through the following link: ssa.gov.
Other Financial Assistance Programs
EBT participants in households certified or receiving services from TANF agencies can participate in SNAP.
While the acronym SNAP stands for the Supplemental Nutrition Assistance Program, it is a monthly benefit that assists low-income persons and families buy healthy food. Benefit programs provided an average of $105 per month for senior citizens in 2020.
Medicare Part D Extra Help and Medicare Prescription Drug, and Medicare Savings Programs
Medicare Part D Low-Income Subsidy lowers drug expenses that are otherwise required by LIPs; Medicare Savings Programs assists in payment for Medicare Part B, which costs $174.
The additional $600 Social Security payment in June may be an excellent solace for many Social Security recipients to afford the inflation rate. Knowing the eligibility rights, the time of disbursement, and forms of supplementation, supplemental income support programs will assist the beneficiaries in their financial planning. More detailed information and information on the latest news is available on the official SSA website.
