It is not accurate to state that all individuals receiving SSI (Supplemental Security Income) will receive two checks in 2023. However, there may be some individuals who will receive two checks in 2023 due to changes in the way SSI payments are calculated and disbursed.
SSI is a needs-based program that provides financial assistance to individuals with limited income and resources who are elderly, blind, or disabled. SSI payments are made on a monthly basis to help cover the cost of basic needs, such as food, shelter, and clothing.
In December of each year, the Social Security Administration (SSA) announces the annual cost-of-living adjustment (COLA) for Social Security and SSI payments. The COLA is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the previous year to the third quarter of the current year.
For 2023, the SSA has announced a COLA of 5.9% for Social Security and SSI payments. This means that individuals who receive SSI payments will see an increase in their monthly payment amount starting in January 2023.
However, it is important to note that not all SSI recipients will see an increase in their payment amount due to the COLA. The amount of SSI payment an individual receives depends on their income and resources, and the amount of any other benefits they receive. The maximum federal SSI payment amount for 2023 is $794 per month for an individual and $1,191 per month for a couple.
In addition to the COLA, there is also a change in the way SSI payments will be disbursed starting in 2023. Currently, SSI payments are made on the first of the month, regardless of whether that day is a weekend or a holiday. However, starting in 2023, SSI payments will be made on the first of the month only if that day is a business day (Monday through Friday). If the first of the month falls on a weekend or a holiday, SSI payments will be made on the preceding business day.
This change in payment date could result in some individuals receiving two SSI payments in January 2023. For example, if an individual’s usual payment date is the first of the month, and the first of the month falls on a Saturday in January 2023, they would receive their January payment on Friday, December 30, 2022, and their February payment on Tuesday, January 3, 2023.
However, it is important to note that not all individuals receiving SSI will receive two checks in January 2023. Whether an individual receives two payments depends on their usual payment date and whether that date falls on a weekend or a holiday.
In summary, while some individuals receiving SSI may receive two checks in January 2023 due to changes in payment disbursement, it is not accurate to state that all SSI recipients will receive two checks. The amount of SSI payment an individual receives also depends on their income and resources, and the amount of any other benefits they receive.