Social Security will change again in October

There is a program from the Social Security Administration (SSA) This means that three new changes will come into force from October. These changes affect beneficiaries receiving Supplemental Security Income benefits (SSI) program, which currently sends payments to more than 7 million low-income Americans who rely on SSI benefits to cover their living expenses. The SSI program provides an important financial lifeline for a variety of people, including people over 65 and adults and children who are disabled or blind. Keep in mind that, according to SSA guidelines, a person's monthly income cannot exceed $1,971 to be eligible for SSI benefits.

Understanding the three new Social Security changes taking effect in October

Currently, single recipients can receive an average of $943 per month, and those who filed as couples can receive up to $1,415. However, when the new rules come into force, the criteria for determining them will change SSI eligibility could change, potentially increasing the number of people eligible and improving payments for existing recipients. To expand the scope of SSI benefits and make them more accessible to people in need, the SSA has implemented three new rules that will take effect on September 30, 2024.

The social welfare budget should be redefined

One of the most significant changes is the concept of a “welfare budget.” Currently, to be eligible for SSI payments, every member of a household must receive public assistance. However, the new requirement requires only one SSI recipient in the household and at least one other household member receiving public assistance subject to resource verification. Furthermore, the Supplemental Nutrition Assistance Program (SNAP) is now considered part of the budget's public assistance package.

As Social Security Commissioner Martin O'Malley said in a recent statement, “We are removing significant barriers to SSI access by streamlining our laws and introducing an additional program targeted at low-income families, such as.” e.g SNAP benefits.” He also emphasized that these new changes will lead to greater equity in all social security programs. This change is expected to increase payments for approximately 277,000 current SSI beneficiaries while making an additional 109,000 individuals newly eligible for SSI benefits.

SSI Benefits will be making changes to its food assistance calculations

Another significant change from the SSA is the treatment of Benefits in kind and maintenance (ISM) in the form of food when assessing SSI eligibility. Previously, the Social Security Administration considered any type of food or housing assistance as unearned income, which reduced a person's eligibility for SSI benefits. This regulation has often been criticized as being too cumbersome and harmful to people in need of help; However, recipients can now accept food assistance from friends and family members without fear of having their benefits cut off.

Darcy Milburn, director of social security and health policy at The Arc, said: “It is a truly meaningful step in tackling one of the most complex, burdensome and inhumane policies affecting people with disabilities receiving benefits.” Supplemental Security Income (SSI) benefits.“, in a CNBC interview. A nonprofit organization called The Arc is committed to supporting people with developmental and intellectual disabilities.

The rent subsidy policy is being expanded

Finally, the final major change will impact the Social Security Administration's rent subsidy policy. Previously there were in states such as Connecticut, Illinois, Indiana, New York, Texas, Vermont and Wisconsin SSI recipient Those who simultaneously received reduced rent or other types of rental assistance were not penalized in terms of SSI eligibility or monthly payment amount. This policy is now being implemented nationwide to ensure that rental assistance does not negatively impact SSI benefits across the country.