The SSI, SSDI Expansion Act 2024 is a proposed legislation that aims to provide additional financial support to low-income individuals receiving Social Security benefits.
The Act, proposed by Congressman John Larson, would increase monthly Social Security payments by $200, resulting in an additional $2,400 annually for eligible beneficiaries.
The proposed increase seeks to alleviate the financial burdens on seniors, disabled individuals, and low-income recipients who are struggling with rising living costs and inflation.
Although the Social Security Administration (SSA) already provides multiple benefits, such as Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), retirement benefits, and survivors’ benefits, this proposed expansion aims to offer further support.
SSI, SSDI Expansion Act 2024: Overview
| Title | SSI, SSDI Expansion Act 2024 |
|---|---|
| Year | 2024 |
| Country | United States of America |
| Agency | Social Security Administration (SSA) |
| Proposed by | John Larson |
| Yearly Benefit | $2,400 |
| Monthly Increase | $200 |
| Approval Status | Pending |
| Category | Finance |
| Official Website | www.ssa.gov |
Social Security Increase 2024
The SSI, SSDI Expansion Act 2024 proposes that eligible recipients of SSI and SSDI would receive an additional $200 per month, resulting in an annual benefit increase of $2,400.
This proposal is intended to help low-income individuals manage increasing living costs and inflation. The bill also includes a 2% increase in Social Security benefits, further contributing to financial support for retirees, disabled individuals, and survivors.
However, it is important to note that the Act is still in the proposal stage and has not yet been approved or passed into law. If the legislation is passed, the payments will be automatically added to existing Social Security benefits for eligible recipients.
SSI, SSDI Expansion Act Eligibility 2024
The eligibility criteria for the SSI, SSDI Expansion Act are based on factors such as age, residency, work credits, and income limits. Here are the key requirements:
- Residency: Recipients must be U.S. residents.
- Age: The applicant must be 62 years or older.
- Tax Status: Applicants must have paid taxes and filed their tax returns for previous years.
- SSI/SSDI Beneficiaries: Recipients of SSI or SSDI benefits are eligible for the additional $200 payment.
- Work Credits: Applicants must have 40 work credits (equivalent to approximately 10 years of work).
- Work Experience: A minimum of 35 years of work experience is required.
- Income Limits: SSI beneficiaries must meet the income and resource limits provided in the following table:
Income and Resource Limits for SSI Beneficiaries
| Status | Resource Limit | Monthly Income Limit (Job) | Monthly Income Limit (Non-Work) |
|---|---|---|---|
| Individuals | $2,000 | $1,971 | $963 |
| Couples | $3,000 | $2,915 | $1,435 |
Income Limits for SSDI Beneficiaries
For those receiving SSDI, the income limits when working during a period of disability are:
| Medical Condition | Monthly Income Limit |
|---|---|
| Disability | $1,550 |
| Disability and Blindness | $2,590 |
Fact Check on SSI, SSDI Expansion Act 2024
The SSI, SSDI Expansion Act 2024 has been proposed by John Larson, but it has not yet passed through legislation.
While the proposed act would provide $200 per month to low-income individuals receiving Social Security benefits, it remains uncertain whether it will become law.
If passed, eligible recipients will receive the increased payments automatically. However, until the bill is approved, it is important not to rely on these payments.
Beneficiaries are encouraged to keep an eye on updates through trusted news sources and official government websites, such as ssa.gov, for the latest information on the status of the bill.
The SSI, SSDI Expansion Act 2024 promises to offer additional financial support to low-income individuals, retirees, and those with disabilities.
If passed, it will provide an extra $200 per month, helping to mitigate the effects of inflation and the rising cost of living. However, as of now, the bill is still in the proposal stage, and there is no confirmation regarding its approval.
Stay updated by checking reliable sources for any new developments regarding the expansion of Social Security benefits.
FAQs
Will the SSI, SSDI Expansion Act 2024 provide $200 monthly?
Yes, if passed, the act will provide an additional $200 per month for eligible Social Security recipients.
Has the Expansion Act been approved?
No, the act is still a proposed bill and has not been approved by legislation.
Who qualifies for the $200 increase?
U.S. residents aged 62 or older, with SSI or SSDI benefits, 40 work credits, and who meet income limits will qualify.
What is the total yearly benefit from the SSI, SSDI Expansion Act?
Eligible beneficiaries will receive an additional $2,400 annually if the act is passed.
Where can I get updates on the SSI, SSDI Expansion Act?
Check the Social Security Administration’s official website at ssa.gov and trusted news sources for updates.
