In the United States, Supplemental Security Income (SSI) recipients are set to get additional help in December 2024 due to the Cost of Living Adjustment (COLA), which is intended to offset the effects of inflation. This adjustment represents an increase in SSI recipients’ monthly payments, which will provide them with more financial support over the next year.
This adjustment is particularly relevant for those who rely on SSI payments to meet their daily needs. However, the timing of the December 2024 payments will have some peculiarities due to the approaching holidays and anticipated payment dates. Understanding how and when these payments will be processed is crucial for beneficiaries to plan their finances efficiently.
In this context, it is important for SSI beneficiaries to know how to access this Cost of Living Adjustment (COLA) in December and what steps they need to take to ensure they get their payments in a timely manner. Here’s how to do this and the necessary requirements.
How to get the 2025 Cost of Living Adjustment with SSI in December?
The 2025 Cost of Living Adjustment (COLA) will be reflected in December SSI payments. The COLA is designed to help beneficiaries cope with the rising cost of living and ensure that their income maintains its purchasing power in the face of inflation. However, it is important to note that in order to get these payments, beneficiaries must meet one key requirement: they must have Direct Deposit activated.
Direct Deposit is the fastest and safest option for getting SSI, as it ensures that payments are made electronically and without delay. Those who do not have this option enabled may encounter delays in receiving their payment. To activate this modality, beneficiaries must complete the process through the Social Security Administration or through its online portal.
In addition, due to the New Year’s holiday (January 1), payments for that month’ sSSI will be sent earlier than usual. The January 2025 payment will be sent earlier to ensure that beneficiaries do not experience delays due to the holidays. This payment will be made on December 31, allowing recipients to get their funds just before the new year begins. For that reason, we can get the 2025 COLA before the year begins.
Eligibility requirements to get monthly SSI
To be eligible to receive SSI in December and throughout the rest of the year, recipients must meet several basic requirements. Supplemental Security Income is intended for people with low income and limited resources, so there are financial criteria that must be met. The following are the general requirements for getting monthly SSI payments:
- Age and Disability: SSI is intended primarily for people over age 65, or those who are blind or disabled. Disability must be verified through a medical process administered by the Social Security Administration (SSA).
- Limited Income: Applicants must have income that does not exceed certain limits established annually. This requirement ensures that only low-income individuals are SSI recipients.
- Limited Resources: In addition to income, applicants must have no more than $2,000 in personal resources (or $3,000 for married couples). Resources include assets such as savings, property, or other assets.
- United States Residency: The applicant must be a resident of the United States to qualify for SSI, and their residency status must be verified by the Social Security Administration.
- Applying for the benefit: Applicants must file an application through the Social Security Administration. This process includes a detailed review of resources, income and other factors.
Once these requirements are met and the application is processed, beneficiaries begin getting monthly payments to help them meet their basic needs. These payments are subject to inflation adjustments, such as the Cost of Living Adjustment (COLA), which allows beneficiaries to get a higher amount based on the rising cost of living.
Importantly, the Social Security Administration offers additional assistance to those who have questions about their eligibility or the application process. Beneficiaries can also check their status and obtain more information through the SSA’s online portal.