As of January 1, 2024, the maximum Federal Supplemental Security Income (SSI) benefit is $943 per month for an individual and $1,415 per month for an eligible couple.
Supplemental Security Income (SSI) is a needs-based federal program administered by the Social Security Administration (SSA). It provides crucial financial assistance to eligible adults and children who have limited income and resources, helping them cover essential living expenses like food and shelter.
2024 Federal SSI Benefit Rates
The maximum Federal SSI benefit amounts are reviewed and adjusted annually to keep pace with the cost of living. For the year 2024, these rates increased due to a rise in the Consumer Price Index (CPI), which tracks changes in the prices of goods and services, observed between the third quarter of 2022 and the third quarter of 2023.
Here are the current maximum Federal SSI benefit amounts:
| Recipient Type | Monthly Federal Benefit (Effective Jan 1, 2024) |
|---|---|
| Individual | $943 |
| Eligible Couple | $1,415 |
It's important to note that these figures represent the maximum federal benefit. Your actual payment may vary based on several factors.
Factors Affecting Your Actual SSI Payment
While the federal rates establish a baseline, the specific amount an individual or couple receives can be influenced by various circumstances:
- Other Income: Any countable income you receive, such as wages, pensions, or other government benefits, can reduce your SSI payment. The SSA has specific rules for how different types of income are counted, often allowing for certain exclusions and disregards.
- Living Arrangements: Your living situation plays a significant role in determining your benefit amount. For example, if you live in someone else's household and do not contribute your fair share toward food and shelter expenses, your SSI benefit might be reduced.
- State Supplements: Many states offer an additional payment, known as a State Supplementary Payment, on top of the federal SSI benefit. The amount of these supplements varies considerably by state and is often based on specific living arrangements or individual needs.
- Resources: To qualify for SSI, you must meet strict resource limits ($2,000 for an individual and $3,000 for a couple). However, certain assets are typically excluded from these limits, such as your primary home and one vehicle.
How SSI Benefits Are Calculated
The SSA calculates your monthly SSI payment by starting with the maximum federal benefit rate and then subtracting any countable income you have. It's not a dollar-for-dollar reduction; the SSA disregards certain amounts of income, especially earned income, to encourage work where possible.
Staying Informed About SSI
Given that SSI benefit amounts and eligibility rules can change, staying informed is crucial for current and prospective recipients. For the most accurate and up-to-date information, the official Social Security Administration website is the definitive resource. You can explore detailed eligibility criteria, application procedures, and current benefit rates by visiting the official Social Security Administration SSI page.
