The Social Security Administration (SSA) recently announced that they will be giving out over $900 million to people who qualify for Supplemental Security Income (SSI).
This is important because it means many people who didn’t get the money they should have will soon receive their payments.
SSI helps people who are older, disabled, or blind and have low income. If you are eligible, you could be getting a lot of money soon.
Who Can Receive SSI Payments in 2024?
SSI is a federal program that helps people with low income who have difficulty covering their basic needs. It is managed by the SSA and funded by the U.S. Treasury. SSI plays a big role in preventing poverty. Without it, millions more Americans would be struggling.
Most people who receive SSI have serious disabilities like blindness, and about one million children are also getting these payments. Since SSI helps people who are disabled or older than 65 and have low income, even more children might qualify as poverty rates rise.
To qualify, individuals can’t have more than $2,000 in assets, and couples can’t have more than $3,000, with some exceptions.
Social Security’s Plan to Distribute $901 Million
Underpayments happen when people don’t get the money they should because of errors in calculations. The SSA said they will distribute $901 million to fix these underpayments. This includes $209.1 million for nearly 81,000 people who have been owed money for a long time.
Underpayments can happen for many reasons, like the SSA not collecting the right information. Errors in verifying eligibility also caused millions of dollars in unpaid benefits in the past. The SSA is now trying to correct these mistakes by making sure people get the money they are owed.
SSA’s Scrutiny Over Overpayments
The SSA has also been criticized for overpaying some people by mistake. Many beneficiaries got notices saying they owe thousands of dollars in refunds because they received more than they should have. These mistakes caused a lot of stress for people who didn’t even know they were overpaid.
In some cases, the problem has been ongoing for years. In response, the SSA announced new rules for handling overpayments. They will no longer take 100% of a person’s monthly Social Security benefit if the person doesn’t respond to a repayment request.
SSA Commissioner Martin O’Malley admitted that mistakes happen, and these rules are meant to fix those issues.
The SSA’s plan to distribute $901 million in delayed SSI payments will help many people who were underpaid in the past. Although overpayments and recovery practices have caused problems, the SSA is working to improve how they handle benefits.
It’s important for SSI recipients to stay informed about their payments and to report any issues.
1.Who qualifies for SSI?
SSI is for people who are blind, disabled, or older than 65 and have low income. Children with disabilities also qualify.
2. Why is the SSA distributing $901 million?
The SSA is fixing underpayments where people didn’t get the money they were supposed to. This money will help correct those mistakes.
3.How do underpayments happen?
Underpayments happen when there are mistakes in calculating how much money someone should receive. The SSA is now correcting these errors.
4.What assets can you have and still qualify for SSI?
Individuals can have up to $2,000 in assets, while couples can have up to $3,000. Some exceptions apply.
5. What should I do if I get an overpayment notice?
If you receive an overpayment notice, reach out to the SSA. They have new rules for handling overpayments, so it’s important to follow up.
