Latest Social Security Update: Expect a $943 direct payment in just 24 days!

There are 24 more days until the first of two May Supplemental Security Income payments, worth up to $943 for individual filers, go out to millions of beneficiaries.

The first installment will go out on Wednesday, May 1, to people with a serious debilitating disability that results in a limited income, according to the Social Security Administration.

A rare second payment will go out May 30, and will replace June’s payment because June 1 is on a weekend.

The maximum amount each filer can get depends on the category they applied for the payment under. There are three categories: Individual filers, joint filers, and essential persons, which are people who live with SSI recipients to provide them with necessary care.

Individual filers receive up to $943 each month, people who filed as a couple can receive up to $1,415 a month, and essential persons get up to $472 each month, according to the SSA. These amounts are an increase of 3.2% from 2023, due to inflation.

In order to qualify for the payments, a person needs to be at least partially blind, or have a “physical or mental condition(s) that seriously limits their daily activities for a period of 12 months or more, or may be expected to result in death.”

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The SSI program was created in 1974 to provide extra assistance to vulnerable Americans, including the elderly, and people with debilitating disabilities. The program was intended to provide an income floor, which state assistance programs would supplement.

The payments are given in addition to regular Social Security benefits for those who qualify for both, but not every recipient will receive the maximum amount. Filers can see a personalized estimate through the SSA’s calculator.