SSA Announces the Maximum Amount of Supplemental Security Income for August.The maximum amount of Supplemental Security Income increases each year for United States recipients. This benefit increases annually through the COLA. Still, there are some months when the Social Security Administration may pay extra money in some states.
SSA Announces the Maximum Amount of Supplemental Security Income for August
Regardless of whether the state pays that extra or not, Supplemental Security Income checks in the month of August will be at a maximum amount of $914 per month. Getting that amount depends on each citizen’s monthly income.
Payment Date and Direct Deposit
The August Supplemental Security Income payment will be sent on the 1st of this month. This is because there are no irregularities. When there are irregularities, the payment is sent on the immediately preceding business day. But this happens only when the 1st of the month is a holiday or weekend.
Efficiency of Direct Deposit
Since the 1st of August is a Tuesday, the payment will be sent without delay or advance. In order to get the check immediately, it is mandatory to activate Direct Deposit. With this method of payment, we will be able to receive any Social Security payment without having to wait.
No Minimum Amount, Average Payment
As for the minimum amount of Supplemental Security Income, it is important to keep in mind that there is no minimum amount. Even so, it is not common for SSI checks to be too small. The average is about $550 a month.
To obtain a monthly check from Supplemental Security Income, two requirements must be met. The first is that you must be 65 years of age or older or have a disability. The other requirement is to have a low income. If we want to find out if we are eligible, we can use the Best tool.