There has been a rumor going on to $200/month Increase for Social Security in April 2024. However the said raise is not an official announcement but just a proposal made under the Social Security Expansion Act. This Act has been proposed by Senator Bernie Sanders, which is yet to become legislation. The SSEA, if passed by the American legislators, is designed to make substantial changes in the implementation of the Social Security programs. It will not only increase the income limits for qualification but also the amount that has been given under various programs run under the Social Security Administration.
$200/month Increase for Social Security Payments
The first thing that needs to be clarified here in no such raise in Social Security payment worth $200/month is coming in April 2024. The SSEA hasn’t been approved by the American Congress and this might take quite some time before it is officially rolled-out for SSA beneficiaries. The present recipients of SSI, SSDI and VA benefits are only going to receive the usual monthly payments which will be talked about in this article.
$914+$2400 Double Stimulus Checks 2024
The reasoning given behind proposing such raise in the Social Security payments worth $200/month is that the current benefits offered under the SSI, SSDI and VA programs are inadequate. As the inflation rises, the cost of living rates also increases which makes it extremely difficult for the low-income households to manage their expenses. The proposed raise will likely be able to bridge the gap between the income and expenses of these SSA beneficiaries. The readers are advised to read the complete article to gain valuable insight on the Social Security payments that are coming in the month of April, 2024.
Social Security payments under SSI, SSDI and VA Overview
|
Title |
Raise in Social Security payments worth $200/month |
|
Country of Implementation |
The United States of America |
|
Associated Department |
The Social Security Administration |
|
Program |
The Supplemental Security Income The Social Security Disability Insurance The Veterans Affairs Benefits |
|
Intended Beneficiary |
Low-income Households |
|
Expected Raise |
$200/month |
|
Payment Frequency |
Monthly |
|
Current Status |
Rumored |
|
For More Information |
www.ssa.gov |
$200/month Increase Social Security programs
The U.S. Federal Government has been tasked the SSA with implementing various financial assistance programs in USA. These programs are funded through the U.S. Treasury and collecting the Social Security Tax. The SST is imposed on the monthly earnings of the employees who have enrolled in the SSA programs. If the said proposal of raising Social Security payments by $200/month is approved, it will consequentially affect all the financial assistance programs that are administered by the SSA. The incremented Social Security payments worth $200/month will be given to the eligible beneficiaries of SSA programs including SSI, SSDI and VA.
$200/month Increase For SSI, SSDI & VA Beneficiaries Eligibility
|
SSI |
SSDI |
VA |
|
• The claimant has to have little to no income, i.e. less than $1971/month for single. Though the limit will increase for couple and head of the household with dependent children;
• The claimant who is aged 65 years or above;
• The claimant who is suffering from any physiological or psychological disability, i.e. blindness;
• claimant has to have resources, i.e. vehicle and savings in the bank account, less than:
i. $2000 – for single;
ii. $3000 – for couple.
• Other details can be checked here at https://www.ssa.gov/ssi.
|
• The claimant has paid SST while working;
• claimant has been suffering from a disability or medical condition that has curtailed their working capability i.e. substantial gainful activity;
• The said disability is of permanent nature or the medical condition has or expected to persist for more than a year or cause death;
• said disability or condition needs to be certified by an authorized medical practitioner.
• Other details can be checked here at https://www.ssa.gov/benefits/disability/qualify.html.
|
• The claimant has served as an active personnel of the military, air force or naval services;
• The claimant hasn’t been dishonorably discharged from the service;
• Other details can be checked here at https://www.va.gov/health-care/eligibility/.
|
SSI, SSDI & VA SSA programs 2024 Benefits
• SSI – It is the flagship program of the SSA that caters to the maximum SSA beneficiaries. It is designed to provide supplemental income for qualified beneficiaries so that they can meet monthly payment deadlines associated with bills and purchases including grocery items, fuel costs, medicines, etc. The SSI beneficiaries are very much dependent on this income as their primary source of steady income that covers basic requirements and emergency needs.
Eligibility Criteria of SSA programs
The SSA programs have been catering to beneficiaries in all the 50 states but not every American citizen can claim benefits under these programs. The claimants of these programs are subjected to satisfaction of certain eligibility criteria. The claimants are deemed qualified to receive the benefits or financial assistance only if they fulfill all the prescribed criteria of the SSI, SSDI and VA programs respectively.
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Gidget bringing her experience as a passionate Content researcher. Gidget’s interest in philosophy propelled her to pursue a degree in international relations and a master’s in Journalism . At Sass News Portal, Gidget combines her knowledge of political economy and personal finance to empower readers by providing answers to their most pressing questions.