People receiving Social Security Disability Benefits (SSDI) will receive money directly into their bank accounts in the coming days.
Some beneficiaries could receive up to $3,822, if they meet certain requirements.
These payments are scheduled to be deposited into bank accounts on the dates that have already been confirmed.
The Social Security Administration (SSA) will begin sending these payments beginning August 14, 2024.
To be eligible for this payment, you must have been born before the 11th of any month of the year.
Additionally, only those who are not receiving Supplemental Security Income (SSI) payments at the same time, and who began receiving their SSDI benefits after May 1997, will be able to receive the deposit on this date.
To receive any SSDI payments, beneficiaries must have a disability that meets the requirements established by the SSA.
If a person outgrows their disability, they must report it, as this will affect their eligibility for future payments.
If payment is not received on time, it may be due to a problem with the financial institution in charge of processing the deposit.
For those who do not qualify for the August 14 payment, there are two other dates available in the month.
Beneficiaries born between the 11th and 20th of any month of the year will receive their payment on August 21, while those with birth dates from the 21st to the 31st will receive their payment on August 28.
The average SSDI payment amount in August is about $1,537, but those with high incomes who met additional requirements could receive up to $3,822.
Additional requirements to receive up to $3,822 in SSDI payments are as follows:
1. Working for 35 years: The beneficiary must have worked and contributed to Social Security for at least 35 years.
2. Have reached the maximum taxable amount: During those 35 years, the beneficiary must have earned the maximum taxable amount, that is, the maximum amount of income on which Social Security taxes are paid.
3. Delaying Application for Benefits: The beneficiary must have delayed applying for benefits until the maximum age allowed by the SSA, which is 70 years old. By doing so, they accumulate additional credits for delay, which increases the amount of their monthly payments.
Continue reading:
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