A wide range of U.S. citizens, ranging from retirees to people with disabilities and their eligible dependents, earn monthly income from the federal government through the Social Security program. In 2023, more than 71 million Americans were social security beneficiaries, anticipating receiving Social Security Disability Insurance (SSDI) payments starting in January 2024.
Several elements, including your date of birth, influence the exact day you will receive your Social Security benefits in 2024. I have collected valuable data for the purpose of assisting you in identifying the issue dates of your social Security payments during the year 2024. Stay updated on the news regarding the next payment, scheduled to arrive in next week.
SSDI Payments in January 2024: Know Your Dates
According to the Social Security Administration (SSA), the 2024 Cost of Living Adjustment (COLA) will increase the average monthly Social Security Disability Insurance (SSDI) benefit for a disabled worker by $48, going from $1,489 to $1,537 starting in January.
In addition, about 1.2 million family members also receive SSDI based on the income history of a spouse, former spouse, or disabled parent. The average group benefit for a disabled worker with a spouse and child (or children) receiving benefits on their record that are swing an increase in January, going from $2,636 per month to $2,720.
Following a 3.2% COLA adjustment, benefits from SSDI will see a bump. It’s worth noting that retirement benefits might surpass disability compensation. It’s important to keep in mind that a disability can hinder your ability to work and may lead to additional Social Security taxes. Consequently, this can significantly reduce the monthly amount you receive in your checks.
SSDI Payments Dates in January: Here’s When to Expect Your Cash
For those eligible for SSDI Payment 2024, the initial Social Security payment was already issued on January 10th, provided they meet the eligibility criteria, starting from May 1997 onward.
For the group of beneficiaries with birthdates between 1 and 10 of the month, they’ll receive your Social Security payments on the second Wednesday of each month. But, if your birthdate is somewhere in between the 11th and the 20th, you’ll get your payment on the third Wednesday. If your birth falls between the 21st and the 31st, your Social Security payments will be disbursed on the fourth Wednesday of every month.
In summary, the first payment was in January 10th, the second payment is in January 17th, and the third payment is set to be sent on January 24th.
Furthermore, for individuals who filed for benefits before May 1, 1997, receive Supplemental Security Income payments, have their Medicare premiums covered by the state of residence, or reside in a foreign country, Social Security payments have been automatically distributed on January 3rd.