Social Security update: August direct payment worth $943 goes out in 16 days

August’s Supplemental Security Income payment, worth up to $943, will go out to millions of beneficiaries in 16 days.

On Aug. 1, the first payments will be distributed. They are given to those living with a debilitating disability that affects one's income, according to the Social Security Administration.

Applicants who file individually can receive up to $943 per month, couples filing jointly can receive up to $1,415, and essential persons receive up to $472. Inflation has caused these amounts to increase by 3.2% since last year.

The maximum amount received is affected by how they apply, with varying amounts being given to individual filers, joint filers, and essential persons who provide SSI recipients with needed care.

To be eligible, filers need to be at least partially blind or have a “physical or mental condition(s) that seriously limits their daily activities for a period of 12 months or more, or may be expected to result in death.”

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SSI payments and regular Social Security benefits are separate. Those who receive Social Security payments don’t automatically qualify for SSI payments, and vice versa.

Recipients can use a calculator from the SSA to figure out their payment total.