If you get SSI in the US, find out if you are qualified for the 2025 COLA increase and can get up to $288 in just one year.
On December 31, 2024, SSI benefits will go up by 2.5%. This means that everyone who gets Supplemental Security Income will get an extra $2.50 for every $100 they get from the government.
Take the case of getting $943 on November 29, 2024. If you are still qualified, you will get $967 on December 31, 2024. That means people who are qualified for the most money will get an extra $24 every month.
Since SSI pays out 12 times a year, 12 times 24 is $288 in a year. That being said, this can only happen for people who will still be able to get $967 in 2025. If your finances get better, you might lose your status. So, let SSA know about any changes as soon as they happen.
Are there any other SSI groups that will get a bigger boost?
In fact, if you are married and qualify, you can get a bigger payment, but it will be for two people. It’s $1,415 for the most SSI in 2024, but it will go up to $1,450 in 2025 after the COLA rise.
They will get an extra $35 a month if they are married and qualify for the full amount. Two people who get an extra $35 a month and don’t lose any Social Security will get an extra $420 a year.
There’s no question that this extra money needs to be split in half since you both qualify. That means everyone who is qualified will get an extra $210 a year. Compared to the $288 extra a person gets each year, it is $78 less.
How much will the SSI salary increase be each year?
As of October 2024, people who get SSI get an average of $697 a month. It’s not very different from one month to the next in the average amounts that Social Security shows.
So, even though it’s from October, this usual amount will still be useful. A Supplemental Security Income payment of $697 in 2024 will add about $204 to the annual income of people who are qualified.
People who are considered essential can also get Supplemental Security Income. The amount they have now is $472, and in 2025 it will be $484. Their boost each year over the 12 payments will be $144.