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Social Security Supplemental Income 2022 — $841 July checks deposited in ONE day — see if you’re eligible for payment

Difference between SSI and SSDI explained
How much SSI pay will I get in 2022?
How much can you earn in 2022 and qualify for SSI?
Will SSI claimants get a fourth stimulus check?

JULY Social Security benefits are dropping in just one day, and millions of Americans are in line for them.

Around eight million individuals will get the SSI (Supplemental Security Income) benefits, which aid disabled adults and children as well as seniors over the age of 65, on Friday, July 1.

Every month on the first, the Social Security Administration (SSA) distributes SSI funds.

The average SSI claimant gets $621 per month in benefits this year, thanks to a 5.9 percent increase in the cost-of-living adjustment.

The maximum monthly payment per person is $841.

For couples, the maximum benefit is $1,261 a month, or $15,136.93 on an unrounded annual basis.

To qualify for SSI, individuals can't have more than $2,000 in assets, while couples can have up to $3,000.

Read our Supplemental Security Income live blog for the latest news and updates...

  • Jennifer Korn

    How do Social Security claimants pay taxes?

    If it turns out that you do owe taxes on your benefits, you can opt to make quarterly estimated payments to the IRS, or you can choose to have federal taxes withheld when you initially apply for benefits.

    You can choose 7 percent, 10 percent, 12 percent, or 22 percent of your monthly benefit withheld for taxes.

    We explain five changes hitting Social Security in 2022.

  • Jennifer Korn

    Do Social Security claimants need to pay taxes?

    In January of each year, you’ll be notified of how much you received in benefits during the previous year.

    This Social Security benefits statement is a form SSA-1099 and can be used to help you complete your tax return.

    By using this form, you’ll find out if your monthly benefits are subject to tax.

    If by February you’ve not received this form, or if you’ve misplaced it, you can request a new one using your online social security account.

  • Jennifer Korn

    Who qualifies for social security?

    To qualify, seniors must have worked for a certain number of years and paid into the Social Security system for a certain amount of time.

    The amount received depends upon when you were born, your earnings history, and when you begin to claim benefits.

  • Jennifer Korn

    Should you wait to claim?

    If you haven’t earned a lot in your working history, and you just got a better-paying job, it would make sense to continue to build up your benefits.

    Currently, the maximum taxable wage is $142,800 in 2021, but that will be boosted to $147,000 next year. 

    Once your earnings exceed that wage cap, you don’t get taxed on it for Social Security.

    Waiting to claim social security might be a good opportunity to improve your earnings history.

  • Jennifer Korn

    What if my SS check doesn’t come?

    If Americans do not receive their Social Security payment on the expected date, they should wait three extra mailing days before contacting the Social Security Administration.

    Beneficiaries receive their payment monthly and seniors cannot withdraw their amount as a lump sum, according to the SSA.

    But, retirees that have a separate private retirement savings account such as a 401 (k) can take out more money if they wish.

  • Jennifer Korn

    Claiming full benefits

    Your full Social Security benefit depends on the age you retire.

    If you retire at 67, which is the full retirement age, in January 2022, your maximum benefit would be $3,345.

    If you retire at age 62 in 2022, your maximum benefit would be $2,364, according to the Social Security Administration.

    If you retire at age 70 in 2022, your maximum benefit would be $4,194.

    The SSA also confirmed that the maximum amount of earnings subject to Social Security tax would increase this month.

    This will increase from $142,800 to $147,000, following an increase in average wages.

  • Jennifer Korn

    Largest COLA since 1982

    The COLA for 2022 is the greatest increase in Social Security payments since the 7.4% rise in January 1982.

    COLAs have been moderate up until this year, averaging 1.65% each year over the last decade, with no rise in benefits in 2016.

  • Jennifer Korn

    Contacting the SSA, continued

    The following are examples of automated telephone services:

    • 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

    You can contact the TTY line at 1-800-325-0778 if you’re deaf or hard of hearing and use TTY equipment.

  • Jennifer Korn

    Contacting the SSA

    During the coronavirus pandemic, several Social Security offices were only open for in-person visits for severe cases.

    The easiest method to reach a representative for assistance, according to the Social Security Administration, is to go to SSA.gov or phone 1-800-772-1213 between 8am and 7pm, Monday through Friday.

    According to the administration, wait times are often shorter Wednesday through Friday or later in the day.

    Telephone services that are automated are also accessible 24 hours a day.

  • Jennifer Korn

    Maximum monthly amount revealed

    In 2022, the maximum federal SSI payout for an eligible individual is $841 per month.

    The amount is $1,261 per month for an eligible individual with an eligible spouse.

    The monthly cost for an essential individual is $421.

  • Jennifer Korn

    Applying for SSI benefits

    You can apply for Supplemental Security (SSI)Income after determining if you are qualified for the program.

    The Social Security Administration website explains how to apply for benefits.

    • Children under the age of 18
    • People between the ages of 18 and 64
    • People above the age of 65
  • Jennifer Korn

    Who is eligible for SSI? 

    Anyone may apply for SSI. 

    The SSI program provides monthly payments to people who are at least age 65 or blind or disabled.

    An applicant must have limited income, such as wages or pensions.

    The person must also have limited resources in terms of things you own.

  • Jennifer Korn

    SSI payment schedule

    The 2022 payment schedule for SSI is as follows:

    • July 1
    • August 1
    • September 1
    • September 30
    • November 1
    • December 1
    • December 30
  • Jennifer Korn

    How remarriage affects SSI

    If you are getting remarried, your SSI payment amount may change as a result of your new spouse’s income and resources.

    If you and your new spouse both get SSI, your payment amount will change from an individual rate to a couple’s rate.

    To determine the SSI benefit amount a couple is eligible to receive, their combined countable income is deducted from the federal benefit rate.

    The result is then divided equally and paid to the couple in separate checks. 

  • Jennifer Korn

    How remarriage affects survivor benefits

    If you decide to remarry before turning the age of 60, you will lose eligibility for survivor benefits on the prior marriage.

    So, if your survivor benefits are part of your main income source, this is something that you might want to take into consideration.

    Remarrying after turning 60 years old has no effect on survivor benefits.

    If you simply got divorced and later decide to remarry, the benefits paid to you from your prior spouse’s account stop.

  • Jennifer Korn

    Does remarriage affect Social Security?

    Remarriage does not affect a person’s Social Security retirement benefits.

    This is because these payments are calculated based on your and your spouse’s individual earnings histories.

  • Jennifer Korn

    Downside of working past full retirement age

    When one claims Social Security benefits before reaching full retirement age (FRA) and continues working and earning above a certain threshold, they are subject to the retirement earnings test (RET).

    This test will reduce benefits by $1 for every $2 you earn above $19,560 in 2022, if workers are below their FRA.

    Meanwhile, the threshold is set at $51,960 for people who will reach their retirement age this year.

    In that event, $1 is withheld for every $3 earned over that threshold.

  • Jennifer Korn

    Go back to work for a boost

    An individual’s benefits are calculated based on covered earnings, which are received from working.

    The Social Security Administration ranks all of a person’s covered earnings from one’s work years and takes the highest 35 values.

    This ranking is used to form average indexed monthly earnings, which is then used to calculate the benefit amount a person will receive.

    If a person decides to keep working, it is possible to increase the average indexed monthly earnings, and therefore, the person’s monthly benefits would also increase.

  • Withdraw application for a boost

    Another option is a complete withdrawal of the application.

    This option is for people who regret claiming and do not foresee themselves re-claiming in the near future.

    It’s only available if it’s been less than 12 months since you decided to claim.

    You will need to repay all the benefits you received in order to reverse your decision.

    To suspend or withdraw your application, you can ask the Social Security Administration (SSA) either over the phone or in writing.

  • Suspend benefits for a boost

    If an individual is between full retirement age (FRA) and the age of 70 and is already receiving benefits, they can still stop monthly checks and restart them later in order for benefits to start growing again.

    During a suspension, a person can earn delayed retirement credits, which boosts the eventual benefit by 8% each year.

    You can only earn delayed retirement credits until the age of 70 though, meaning there’s no point to delay them further beyond that.

  • Social Security changes: workers to pay more taxes

    Alongside the COLA raise, the SSA also confirmed that the maximum amount of earnings subject to Social Security tax will increase in January.

    This will go up from $142,800 to $147,000, which comes following an increase in average wages.

    It means workers on high salaries will be paying tax on a larger proportion of their earnings.

  • Social Security changes: raise for disabled Americans

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

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

    SSDI aims to provide relief for those with disabilities who can no longer work, or at the same capacity as once before.

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

  • Social Security changes: raise for retirees

    In October, the Social Security Administration (SSA) confirmed the cost-of-living adjustment (COLA) will increase by 5.9 percent in January.

    It means the average 2022 check for a retired worker will increase by $92 – from $1,565 to $1,657 a month.

    Meanwhile, a typical couple’s benefits will rise by $154 – from $2,599 to $2,753 per month.

    Social Security claimants are usually notified by mail starting in early December about their new benefit amount.

  • Social Security changes: earnings limit increase, continued

    However, starting from 2022, this threshold will increase to $19,560.

    If you reach full retirement age in 2022, you’ll be able to earn $51,960 next year – up by $1,440 from the 2021 annual limit of $50,520.

    In that event, $1 is withheld for every $3 earned over that threshold.

    If you were born in 1960 or later, your full retirement age is 67. For others, it’s 66 and a specific number of months.

  • Social Security changes: earnings limit increase

    Social Security claimants can expect a number of changes to their benefits next month.

    If you work while collecting Social Security benefits, then your benefits may be reduced, depending on how much you earn.

    If your income is more than $18,960 during 2021, the SSA will withhold $1 for every $2 you earn over the limit if you’re below the full retirement age.