Social Security disburses monthly payments to eligible beneficiaries, and the prospect of receiving two checks per month is highly coveted among most recipients. Undoubtedly, this additional financial support would be of great assistance. However, it is important to note that this double payment does not constitute an extra disbursement. Rather, it represents the funds that beneficiaries would typically receive in July, issued in advance.
Therefore, this payment is simply an early disbursement prompted by the occurrence of a Saturday payday. In cases where a payment is scheduled on a holiday, Saturday, or Sunday, it is issued in advance, corresponding to the preceding business day. This preemptive approach ensures that Social Security beneficiaries receive their payments without any significant delays, taking into account the closure of banks on those specific days.
Who is eligible to receive Supplemental Security Income (SSI) from the Social Security Administration (SSA)?
To qualify for SSI checks, the primary criterion is having a low income and limited resources. To become a beneficiary of this Social Security benefit, individuals must meet one of the following criteria:
- Be 65 years old or older
- Be blind or partially blind
- Have a qualifying disability
Even children can potentially qualify to receive monthly Social Security payments. To be eligible, a child must be under the age of 18 and have a documented disability, which can be either mental or physical. In addition to a disability, if the child is blind, they may also meet the eligibility criteria. The amount of this benefit can reach up to $914, providing valuable financial support for eligible children and their families.
These payments can serve as a consistent source of income, ensuring that your children receive the best possible care. If you qualify as a couple, the amount can be even higher, as it accounts for support for two individuals. In such cases, the maximum payment can reach up to $1,371. Dependents or essential individuals may be eligible for a lower amount, up to $458. Don’t delay, apply now to receive the financial assistance you need from Social Security. It’s worth noting that in June, Social Security will issue two checks to certain beneficiaries.
Which individuals will be eligible for receiving double payments from Social Security in June 2023?
While it is not a common scenario, occasional delays may still arise. If such a delay persists for no more than three business days, there is no immediate cause for concern. However, if you do not receive your payment within three mailing days, it is recommended to contact Social Security for assistance in identifying the issue. Additionally, it is advisable to reach out to your bank to inquire about the status of the funds and whether they are en route or not.
In June 2023, recipients of Supplemental Security Income (SSI) will receive two payments from Social Security. The first payment will cover the month of June, while the second payment will account for the month of July. It’s important to note that there won’t be an extra payment; rather, these are the regular 12 payments allocated for the year, albeit distributed on separate dates to accommodate various factors.
It is important to be aware that you may not observe any Social Security payments on your bank statement in July. Receiving the payment in advance increases the possibility of being tempted to spend it earlier than intended. Therefore, it is crucial to exercise responsible financial management by adhering to your budget and avoiding unnecessary expenditures. If you have not yet created a budget, it is highly recommended that you design one to ensure optimal financial planning and utilization of funds.