$200/Monthly Raise to Social Security, SSDI, SSI, VA – Eligibility Criteria

According to announcements made by the federal government and the Social Security Administration (SSA), the Social Security, SSDI, SSI, and VA benefits will increase by $200 per month beginning in June 2024. With this increase, over 71 million Americans with low incomes will receive financial assistance.

90%  of older adults rely primarily on Social Security benefits. This raise is an initiative to increase financial assistance to facilitate the ability to manage living expenditures.

The goal of the SSA’s increased payouts is to improve their financial circumstances. The $200 Social Security payment dates for 2024 may be seen on www.ssa.gov.

Overview Of $200 Monthly Raise To Special Security, SSDI, SSI, And VA

The goal of the payments is to support over 38 million households by immediately depositing the funds into the bank accounts of the beneficiaries. Increasing cost-of-living adjustments are a response to rising rates of inflation.

Eligible low-income households, permanent residents of the USA, people with disabilities, senior citizens 65 years of age and older, and youngsters blind or with other impairments will all benefit from this $200 monthly increase.

Eligibility Criteria For $200 Monthly Raise To Social Security Payment

People have to fulfill certain requirements in order to be eligible for the $200/month hike, as stated by the SSA. Mentioned criterias are :

• Age criteria: The age of senior citizens must be 65 years or above. Senior citizens below the age of 65 years must have disabilities.
• Income criteria: To be eligible for monthly raise, individuals with little or no income will qualify under the federal income limit guidelines.
• Disabilities criteria: Citizens suffering from disabilities or blindness that prevent them from earning are eligible for a $200/month raise.
• Households with Disabled Minors: households who have disabled minors can also qualify for the $200/month raise.

Dates Of Payment For $200 Monthly Raise To Social Security Payment

Starting in June 2024, there will be a $200 monthly rise. The beneficiary’s date of birth determines the payment dates, which are based on the federal government’s schedule. This is the summary:-