In November 2024, recipients of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) will experience a shift in their payment schedule. This article outlines the details of these payments, eligibility requirements, and important changes regarding cost-of-living adjustments (COLA).
Payment Schedule for November 2024
This Article Includes
SSI Payments on November 1
All SSI recipients will receive their monthly payment on November 1, 2024. This payment will be distributed via direct deposit or a physical check, depending on individual preferences and banking arrangements.
SSDI Payments Rescheduled
Typically, SSDI recipients receive their payments on the third of the month. However, since November 3 falls on a weekend and is not a business day, the Social Security Administration (SSA) has adjusted the payment schedule. SSDI payments that would have been issued on November 3 will instead be processed on November 1, coinciding with the SSI payments.
Double Payments for Some Recipients
Eligible recipients who qualify for both SSI and SSDI will receive two direct deposits on November 1: one for SSI and another for SSDI. To qualify for both payments, individuals must meet specific criteria:
- Be approved for SSI benefits.
- Be eligible for SSDI simultaneously..
- Adhere to all Social Security regulations to maintain eligibility.
Understanding Cost-of-Living Adjustments (COLA)
While both SSI and SSDI payments are scheduled for November 1, recipients should note that these payments will not include the recently announced 2.5% COLA increase. The Social Security Administration has indicated that SSI recipients will not receive the COLA boost until December 31, 2024. Similarly, SSDI recipients will see the adjustment reflected in their payments starting January 2025.
Payment Amounts
Regarding the amounts for November, here’s what eligible recipients can expect:
- SSDI Recipients:
Maximum payment: $3,822
Average payment: $1,539
- SSI Recipients:
Maximum payment: $943
Average payment: $698
For couples eligible for SSI, the maximum combined payment is $1,415. After the COLA adjustment takes effect, the maximum amounts will rise to $967 for individuals and $1,450 for couples.
Conclusion
November 2024 brings significant changes to the payment schedules for SSDI and SSI recipients, with both payments being issued on the same day. While the adjustment in payment dates offers some convenience, it’s essential for recipients to be aware of the delayed COLA increases. By understanding these changes, beneficiaries can better plan their finances and ensure they remain compliant with Social Security requirements.