In 2024, the Supplemental Security Income (SSI) federal benefit rate is $943 for an individual and $1,415 for an eligible couple per month.
These amounts reflect an increase in benefits effective January 1, 2024. The adjustment was made because there was a rise in the Consumer Price Index from the third quarter of 2022 to the third quarter of 2023, leading to a Cost-of-Living Adjustment (COLA) for federal benefits.
Understanding the 2024 SSI Federal Benefit Rates
The Social Security Administration (SSA) sets the Federal Benefit Rate (FBR), which is the maximum amount of SSI an individual or couple can receive, assuming they have no other countable income.
Here's a quick look at the federal SSI payment standards for 2024:
| Recipient Category | Monthly Federal Benefit Rate (2024) |
|---|---|
| Individual | $943 |
| Eligible Couple | $1,415 |
Factors Affecting Your SSI Payment
While the federal benefit rate sets the baseline, the exact amount an individual or couple receives can vary. Several factors influence the final payment:
- Countable Income: If you have other income, such as wages, pensions, or other government benefits, it generally reduces your SSI payment. The SSA has specific rules for calculating what income counts and how much it reduces your benefit. For example, not all income reduces your SSI payment dollar for dollar.
- Living Arrangements: Your living situation can sometimes affect your SSI payment. For instance, if you live in another person's household and do not pay your fair share of food and shelter, your SSI benefit might be reduced by one-third.
- State Supplemental Payments: Many states provide an additional payment, known as a state supplement, on top of the federal SSI benefit. The amount of these supplements varies significantly by state and can depend on factors like your living arrangement. This means your total SSI payment could be higher than the federal rate.
- Marital Status: As shown in the table above, the benefit rate for an eligible couple is different from that of two individuals living separately.
For comprehensive details on the Supplemental Security Income (SSI) program and how your specific circumstances might affect your payments, you can visit the official Social Security Administration website.
