Social Security

New SSI Payment Rules: Social Security Changes Coming in September 2024 Affecting Millions

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SSI Payment Rules

The Social Security Administration (SSA) has announced important changes starting in September 2024. These changes will affect programs like Supplemental Security Income (SSI) and Social Security payment schedules. Some updates might bring higher payments for certain people, while others adjust how benefits are calculated. Below, we break down the changes to help you understand what’s … Read more

IRS Announces $3800 Monthly Checks Direct Deposits for Low-Income Seniors: What You Need to Know

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$3800 Monthly Direct Deposits

In September 2024, the Internal Revenue Service (IRS) will provide significant financial assistance to low-income seniors who receive Social Security and Social Security Disability Insurance (SSDI) benefits. This new initiative will see qualifying individuals receiving up to $3,800 per month directly deposited into their bank accounts. This article explains eligibility criteria, payment schedules, and essential … Read more

Social Security’s 2025 COLA Boost May Be Undone by Rising Medicare Premiums

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2025 COLA

Social Security’s Cost-of-Living Adjustment (COLA) for 2025 is set to rise, but increases in Medicare Part B premiums may offset this benefit for retirees. The latest estimated COLA has reached 3.2%, driven by ongoing inflation. Let’s take a closer look at what this means. What Is COLA? The Cost-of-Living Adjustment (COLA) is an annual increase … Read more

Over 7 Million Social Security Recipients Won’t Get Their September Checks — Here’s Why

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Social Security Recipients

Millions of Supplemental Security Income (SSI) recipients won’t be receiving a check in September, and the reason is quite simple: a quirk in the calendar. Normally, payments are sent out on the 1st of each month, but if that date falls on a weekend or a holiday, the Social Security Administration (SSA) moves the payment … Read more