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

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

According to the Social Security Administration, the first payments will be distributed on Aug. 1 to those living with a debilitating disability that affects one’s income.

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.”

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 increased these amounts by 3.2% since last year.

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

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 total payment.