Supplemental Security Income 2022 payment

What is the 2022 payment schedule? part 3

This is the 2022 payment schedule from July to September:

July 2022 Payments

• Second Wednesday: July 13
• Third Wednesday: July 20
• Fourth Wednesday: July 27

August 2022 Payments

• Second Wednesday: Aug. 10
• Third Wednesday: Aug. 17
• Fourth Wednesday: Aug. 24

September 2022 Payments

• Second Wednesday: Sept. 14
• Third Wednesday: Sept. 21
• Fourth Wednesday: Sept. 28

What is the 2022 payment schedule? part 2

This is the 2022 payment schedule from April to June:

April 2022 Payments

• Second Wednesday: April 13
• Third Wednesday: April 20
• Fourth Wednesday: April 27

May 2022 Payments

• Second Wednesday: May 11
• Third Wednesday: May 18
• Fourth Wednesday: May 25

June 2022 Payments

• Second Wednesday: June 8
• Third Wednesday: June 15
• Fourth Wednesday: June 22

What is the 2022 payment schedule? part 1

This is the 2022 payment schedule from January to March:

January 2022 Payments

• Second Wednesday: Jan. 12
• Third Wednesday: Jan. 19
• Fourth Wednesday: Jan. 26

February 2022 Payments

• Second Wednesday: Feb. 9
• Third Wednesday: Feb. 16
• Fourth Wednesday: Feb. 23

March 2022 Payments

• Second Wednesday: March 9
• Third Wednesday: March 16
• Fourth Wednesday: March 23

What do you need to apply for benefits?

When you are filling out your Social Security application, you will need the following documents:

• Birth certificate
• Proof of U.S. citizenship or lawful alien status if you were not born in the US
• Social Security number
• Financial documents, such as W-2 forms and tax returns

Spousal benefits

If you have not worked or do not have enough Social Security credits to qualify for your own Social Security benefits, you may be able to receive spousal benefits.

The spouse of a retired worker can receive up to half of their spouse’s benefits.

To qualify for spouse’s benefits, you must be either at least 62 years of age or any age and caring for a child entitled to receive benefits on your spouse’s record and who is younger than age 16 or disabled.

If you choose to begin receiving spouse’s benefits before you reach full retirement age, your benefit amount will be permanently reduced.

The spousal benefit continues until one spouse dies, after which the survivor may be eligible for survivor benefits.

Cash-flow may remain the same

Mary Johnson, Social Security and Medicare policy analyst for the Senior Citizens League, warned Americans that their cash-flow may remain the same.

“We are still going to see this tremendous problem with prices increasing faster than the COLA,” she told CBS News.

“So, retirees, anybody living on a fixed income, need to be aware that the 5.9percent may look like a bigger increase than we’ve ever gotten.

“But once they go through their household budget, they will realize it still won’t pay for all the increasing bills.”

Johnson added that inflation is expected to continue to grow in 2022.

SSDI also gets COLA boost

The 5.9percent COLA increase also applies to Social Security Disability Insurance (SSDI).

The average monthly benefit for disabled workers will go up by $76, from $1,282 to $1,358 a month.

SSDI provides relief for people with disabilities who can no longer work at all, or at the same capacity as once before.

The benefit aims to replace a portion of the qualifying worker’s sala

Inflation triggers affect social security, continued

According to the Senior Citizens League, healthcare costs and housing costs have gotten 145 percent and 118 percent more expensive, while COLA’s have increased Social Security checks by just 55 percent since 2000.

Social Security claimants have lost 32 percent of their purchasing power, according to the study by the non-partisan group.

Inflation triggers affect social security

Typically, inflation triggers when the supply doesn’t meet the demand – resulting in rising prices across the economy.

Everything in necessities from food to gas has gotten much more expensive.

Furthermore, the Congressional Research Service projects Medicare Part B premiums will spike from $148.50 to $157.70 per month.

Inflation takes its toll

Inflation has become much worse in recent months, with Americans looking to return to normal life.

The latest data on inflation from the Bureau of Labor shows that consumer prices rose 5.4 percent in the year to September – a troubling trend for seniors relying on Social Security checks.

Typically, inflation triggers when the supply doesn’t meet the demand – resulting in rising prices across the economy.

Everything in necessities from food to gas has gotten much more expensive.

What are delayed retirement credits?

If you wait until age 70 to start your benefits, the SSA will increase your benefit because you earned “delayed retirement credits.”

The retirement benefits are then paid out until you die.

The age you begin receiving your retirement benefit affects how much your monthly benefits will be. 

You can begin getting Social Security retirement benefits as early as age 62, but it will reduce your benefits by as much as 30percent below what you would get if you waited to retire until your full retirement age.

If you wait until your full retirement age (66 for most people), you will get your full benefit. 

Best ways to contact the SSA, continued

Automated telephone services include:

• Requesting a benefit verification letter or replacement tax summary
• Requesting a replacement Medicare Card or applying for help with Medicare prescription drug costs
• Getting claim status
• Finding addresses for local Social Security offices
• Requesting a form to apply for Social Security cards or make changes
• Hearing information about SSI, COLA, taxes, payment delivery dates, direct deposit, fraud, and other Social Security services
• Updating addresses or phone numbers for Social Security benefits

If you’re deaf or hard of hearing and use TTY equipment, you can call the TTY number at 1-800-325-0778.

Best ways to contact the SSA

Many Social Security offices have been open only for in-person appointments for critical situations during the coronavirus pandemic.

The Social Security Administration said the best way to reach a representative for help is online at SSA.gov, or by calling 1-800-772-1213 between 8am and 7pm, Monday through Friday.

Wait times are typically shorter Wednesday through Friday or later in the day, according to the administration.

Automated telephone services are also available 24 hours a day.

When do SSI payments go out?

When the payments will arrive depends on your birthday.

If your birth date is on the 1st-10th, it will be deposited the second Wednesday of each month.

If your birth date is on the 11th-20th, it will be deposited on the third Wednesday of each month.

If your birth date is on the 21st-31st, it will be deposited on the fourth Wednesday of each month.

Here is the January 2022 payment schedule:

• Second Wednesday: January 12
• Third Wednesday: January 19
• Fourth Wednesday: January 26

What is the COLA formula?

The COLA is calculated based on data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which measures changes in the cost of popular goods and services.

The change in inflation means retired worker can expect to see a boost of $92 on average, bringing their monthly benefit from $1,565 to $1,657.

What are Social Security credits?

To collect Social Security benefits, you must have met the minimum requirement of performing “enough work”.

The Social Security Administration (SSA) defines “enough work” as earning 40 Social Security credits. 

In 2022, an individual will earn one Social Security credit for every $1,510 in covered earnings.

You can get a maximum of four Social Security credits each year, and you must earn $6,040 to get the maximum of four credits.

Therefore, to earn 40 credits you must work for at least 10 years.

You are able to earn more than 40 credits. However, 40 credits is the minimum number you need to be eligible for Social Security benefits

Who is eligible for SNAP?

SNAP, commonly referred to as food stamps, helps low-income people buy nutritious food.

To get SNAP benefits, your household must make under a certain income level. Your household includes everyone who lives with you, buys, and prepares food together.

Resources, such as cash or money in a bank account, also affect eligibility.

Currently, households may have $2,250 in resources or $3,500 if at least one person is age 60 or older or disabled.

If you are between the ages of 18 and 49 and able to work but currently unemployed without dependents, you may only be eligible for SNAP benefits for three months within a three-year period.

COLA increase and SNAP benefits

Millions of Social Security beneficiaries are getting larger payments in 2022 via the 5.9percent Social Security Administration (SSA) COLA boost.

The increase, though, can have an effect on people who are part of the federal Supplemental Nutrition Assistance Program (SNAP).

The program helps low-income people, and households need to be under certain income levels in order to receive assistance.

Americans on Social Security may be at risk of losing SNAP benefits if their new income level after the COLA boost exceeds the limits.

Additional help for recipients, continued

Financial assistance not listed below may affect SSI eligibility or payment amount, according to the Social Security Administration.

Find more information about the programs offered on the administration’s Emergency Assistance for Homeowners and Renters webpage.

Additional help for recipients

The Social Security Administration is informing recipients that help is available for homeowners and renters during the coronavirus pandemic.

Financial help can affect eligibility for Supplemental Security Income (SSI) or monthly SSI amounts.

However, emergency financial assistance received from the following programs and funds will not count against a recipient’s eligibility or payment amount:

• Emergency Rental Assistance Fund
• Emergency Assistance for Rural Housing/Rural Rental Assistance
• Homeowner Assistance Fund
• Housing Assistance and Supportive Services Programs for Native Americans

Retire at 70 for maximum benefit

The biggest reason why it makes sense to wait until 70 before claiming Social Security is the boost you get for delaying that long.

If you claim at 62, you could see your benefits reduced as much as 30 percent, according to the Social Security Administration.

If you wait until your full retirement age, you’ll get 100 percent of your monthly benefit.

If you delay benefits for an additional 12 months, you’ll receive 108 percent of the monthly benefit and if you wait until 70, you’ll receive 132 percent.

If you fully take advantage of everything from your work and earnings history to delaying your claim – it’s possible you can earn the maximum Social Security benefit.

In 2022, the maximum benefit will be boosted to $4,194 a month.

COLA’s impact on seniors, continued

According to the Senior Citizens League, healthcare costs and housing costs have gotten 145% percent and 118% more expensive, while COLA’s have increased Social Security checks by just 55% since 2000.

Social Security claimants have lost 32% of their purchasing power, according to a study by the non-partisan group.

But things could get worse next year, according to Seniors Citizens League analyst Mary Johnson.

She said: “It appears that inflation is not done with us yet, and the buying power of Social Security benefits may continue to erode into 2022.”

COLA’s impact on seniors

The latest data on inflation from the Bureau of Labor shows that consumer prices rose 5.4% in the year to September – a troubling trend for seniors relying on Social Security checks.

Typically, inflation triggers when the supply doesn’t meet the demand – resulting in rising prices across the economy.

Everything in necessities from food to gas has gotten much more expensive.

Furthermore, the Congressional Research Service projects Medicare Part B premiums will spike from $148.50 to $157.70 per month.

What is SSI?

Supplemental Security Income (SSI) is available to eligible seniors and worth up to $841 a month.

SSI is a federal program that provides monthly payments to adults and children with a disability or blindness who have income and resources below specific financial limits. 

SSI payments are also made to people age 65 and older without disabilities who meet the financial qualifications.

People can be eligible to receive both SSI and Social Security.

Reporting Social Security scams

If you suspect an email you got from the Social Security Administration may be fraudulent, you’re urged to avoid responding or clicking on any links in the message.

The SSA said you should report the email by forwarding it to the US Computer Emergency Readiness Team (US-CERT) at [email protected].