SSI stands for Supplemental Security Income, in the US, it is a beneficial program that supports individuals and married couples financially who are age-affected, disabled, blind, or have fewer income resources. This program is managed and controlled by SSA(Social Security Administration), the department of the US government.
This year, significant changes in this program will be experienced with an $8000 SSI Hike in the asset limits for beneficiaries. During the COVID-19 pandemic, SSI became very critical support for the beneficiaries in the country. It helped many needy persons who lost their income resources and assets. This hike is crucial for many citizens who have low-income resources as it determines whether they can be eligible for SSI benefits.
In this article, we going to talk about the eligibility of the program, the application process for the same, and the benefits of the $8000 SSI Increase in the US.
$8000 SSI Hike For Individuals & Couples Application Process 2024
The $8000 SSI is a federal program for US citizens that provides financial support to single individuals and couples by the US government who are disabled, of old age, blind, or have low assets. SSI benefits are funded by general tax revenues, personal income taxes, corporate taxes, and other taxes, excluding Social Security taxes. In the year 2024, some changes have been seen in the asset limits for the SSI eligibility as its asset limits have increased.
For single individuals, it has increased from $2000(old limit) to $10,000(new limit). Similarly, for beneficiary couples, it has hiked from $3000(old limit) to $15000(new limit). This hike ensures that now more people can be eligible for SSI without losing their benefits.
Social Security Earning Limits Changes
SSDI Checks Will Also Increase
Eligibility Criteria for $8000 SSI Increase
- Income and Asset: in 2024, for individuals income assets must be less than $10000, and for couples, it must be below $15,000 per annum. These guidelines are provided by the federal so your income asset limits must adhere to these guidelines.
- Age Limit: When it comes to age criteria for SSI benefits, according to the guidelines your age must be equal to or more than 65 years.
- Disability: The individuals or couples who are blind or disabled it is not necessary to meet the age criteria of 65. They will be eligible for the $8000 SSI 2024.
- Citizenship: To be eligible for the SSI, you must have the citizenship of the United States of America.
- Veterans: Veterans who are getting VA benefits, must meet the income asset and disability criteria to get the benefits in 2024.
Payment Schedule for $8000 SSI Hike
For the beneficiaries who are eligible, the payments are distributed monthly according to their birth dates.
| Date of Birth | Payment Day of the Month |
| If DOB ranges between 1st & 10th | 14th of the month |
| If DOB ranges between 11th & 20th | 21st of the month |
| If DOB ranges between 21st & 31st | 28th of the month |
| Payee Eligible for SSI before 1997 | 1st of the month |
| SSDI before 1997 | 2nd of the month |
How to Claim for $8000 SSI Hike Increase in 2024?
- Go to the Official Website of SSA
Go to the official website Social Security Administration, https://www.ssa.gov/ to apply for the SSI.
- Submit Required Details
Click on “Apply for SSI” and fill in the required details for applying. It will be a process of checking the eligibility for the SSI. For the further verification process, keep all the required documents ready such as proof of income, age proof, disability certificate, citizenship details, and other information.
- Apply Yourself or Schedule an Appointment
You can apply for SSI yourself online or appoint an SSA agent who will help and assist you in determining your eligibility and completing your application process.
- Apply for VA Benefits if Applicable
If you are a veteran go to the official website https://benefits.va.gov/benefits/ for veteran benefits and check the eligibility for getting the VA benefits and apply for the benefits.
- Review & Submit
After filling in all the required details and submitting documents you must review your application carefully before applying finally.
Effects of $8,000 SSI Increase in 2024
If we talk about the effect of the $8000 asset limit increase, it is important for the finances in 2024. It has been harder for low-income individuals to meet the requirements due to Increasing costs of living, and impacts of inflation.
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Cost of Living Adjustments, in short COLA, provides a buffer against rising prices of essential needs, allowing individuals and couples to get more resources while still retaining the SSI. The US government wants to reduce the financial stress on low-income or persons with fewer asset limits, encouraging them to save more money without losing their SSI benefits with financial security.
Sum up
In 2024, the increase in $8000 SSI is a significant and effective change for dependent people for their financial stability. This rise in asset limits provides great support and some of the financial pressures faced by eligible individuals. The single persons or married couples who are eligible, it’s essential to adhere to the application process carefully. It is important to it is important to review your application carefully before the final submission.
FAQs For $8000 SSI Hike For Individuals & Couples
$8000 SSI Hike is an increase in asset limits from $2000 to $10000 for individuals and $3000 to $15000 for couples who are getting the benefits of SSI in the US.
Individuals or couples who meet these asset limits less than $10000 for singles and $15000 for couples, are eligible for the SSI benefits. There are the age criteria for the eligibility is 65 years or more. US citizenship is a must.
Payments of SSI are made according to the date of birth of the beneficiaries monthly. Beneficiaries whose DOBs are between the 1st and 10th will get the payment on the 14th of the month; if their DOBs are between the 11th to the 20th, will get the payment on the 21st; and if the DOBs are between the 21st to 31st, will get the payment on 28th of the each month.
To apply for the $8000 SSI Increase in 2024, you should go to the official website of the SSA.GOV. Here you can apply yourself or book an appointment with the agent who will assist you with the whole process of the application.
$8000 SSI is funded by the US government’s general funds and Treasury such as personal income taxes, corporate taxes, and other taxes.
Riya Claire is the Editor-in-Chief of the East Hampton Chamber Portal. She holds a degree in Mass Communication, an MBA in Finance, and a diploma in HR, making her a versatile professional for an online portal