Is SSI getting a $200 raise?

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asked Jul 3, 2022 in Other-Finance by Ithinkaboutu (900 points)
Is SSI getting a $200 raise?

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answered Jul 3, 2022 by Withoutbinds (9,540 points)
According to the SSI people who are on SSI and turning 62 years of age in 2023 are getting a $200.00 per month raise in their SSI.

Anyone who is a current Social Security recipient or who will turn 62 in 2023 — the earliest age at which an individual can claim Social Security — would receive an extra $200 per monthly check.

The Social Security Administration has announced a 1.3% increase in Social Security and Supplemental Security Income (SSI) benefits for 2021, a slightly smaller cost-of-living increase (COLA) than the year before.

SSI stands for Supplemental Security Income.

Social Security administers this program.

They pay monthly benefits to people with limited income and resources who are disabled, blind, or age 65 or older.

Blind or disabled children may also get SSI.

To get SSI, you must meet one of these requirements: • Be age 65 or older.

Be totally or partially blind. Have a medical condition that keeps you from working and is expected to last at least one year or result in death.

There are different rules for children.

What is the difference between Social Security and SSI?

The major difference is that SSI determination is based on age/disability and limited income and resources, whereas SSDI determination is based on disability and work credits.

In addition, in most states, an SSI recipient will automatically qualify for health care coverage through Medicaid.

A couple can get SSI if they have unearned income of less than $1,281 a month in 2022.

Because a larger portion of earned income isn't counted, a person who gets SSI can earn up to $1,767 a month ($2,607 for a couple) and still get SSI.

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