$2400 Monthly Checks With a $200 Boost for These Seniors: Eligibility & Key Details

$2400 Monthly Checks With a $200 Boost: The rumors about the current proposal that hints at an increase of Social Security benefits by $200 per month to $2400 for every citizen have left many people with this question.

This article explains what is happening, what happens and what it means to those getting Social Security benefits—SSI, SSDI or VA benefits.

So here is the best that can be known.

$200 Increase: Is It True?

Some have heard of sentiments that Social Security checks are $200 additional per month, which brings it to $2,400 per month for the elderly and others offer federal benefits.

These rumors are a result of the general discourse on how high inflation is affecting the fixed-income earners and especially the retirees.

It is important to understand that the government has planned in the future to look for ways of altering the benefits that have not been approved in this current situation up to an amount of $200.

What’s Really Happening?

The CPI has also revealed that due to inflation, more than 50% of seniors are struggling to afford their basic necessities even with their current benefits. This compelled a lot of people to ask for more revenues to be given by the Social Service and Security. Though the figures have been mentioned as a $200 increased proposal, the same has not been passed yet.

Also Read: $1800 Monthly IRS Social Security Payments in Sept 2024: Eligibility & Key Dates

Social Security Adjustments: What We Know

Since its inception, the U.S. government has been providing regular cost of living adjustments (COLA) to the Social Security payment, taking into consideration the inflation rates.

The COLA for 2024 has been pegged at 3.2%, nowhere as high as the $200 rumor was. This 3.2% increase, however, will go a long way in trying to alleviate some of the challenges exerted by inflation on the financial aspect.

Ideally, the bill that proposed having an increase of $200 was introduced in the Congress but the bill has not been passed and, therefore, there is no $2,400 check for every monthly in 2024.

Is the $200 Increase Official?

So far, the bill that seeks to introduce the $200 increment has not received its wholesale approval from Congress. Despite these discussions, there has not been any formal legislation enacted. The current increase through COLA adjustments will be 3.2%. This adjustment will offer a slightly higher spike in the monthly payments than what has been rumored about.

Payment Dates for $2,400 Monthly Checks

It is necessary to know when Social Security payments come, knowing that there is no $2400 monthly check with a $200 raise in 2024. The due dates of the payments are anchored on the recipient’s birthday, and seniors do not struggle to keep track of when they should expect to receive their checks.

Here’s a breakdown of the typical payment schedule:

Birthdays	Payment Date
1st to 10th of the Month	Second Wednesday
11th to 20th of the Month	Third Wednesday
21st to 31st of the Month	Fourth Wednesday

Upcoming Payment Dates

Month	Birthdays 1-10	Birthdays 11-20	Birthdays 21-31
January	10th	17th	24th
February	14th	21st	28th
March	12th	19th	26th
April	9th	16th	23rd

Also Read: Confirmed Social Security Update: A Good News for Millions of US Retirees

Eligibility for the $2400 Monthly Checks

As much as people think that a $2400 check for 2024 isn’t available, Social Security itself is composed of SSI, SSDI, and VA benefits, which depend on factors such as.

To qualify for these monthly benefits, you must:

• Be 65 years or older, or
• Have a disability or be blind, or
• Have low income or resources (less than $2,000 for an individual or $3,000 for a couple).

If agreed, the benefits will be made in line with the level of income earners as well as other forms of taxes such as tax credits.

Fact Check: $2400 Monthly Checks

There’s a lot of confusion surrounding Social Security payments, but here’s the truth:

• Claim: There will be a $200 increase leading to $2,400 monthly checks in 2024.
• Fact: False. The proposal for a $200 increase has not been approved. The official increase for 2024 is 3.2%.

Nevertheless, irrespective of the projected $200 increase or otherwise, recipients should endeavor to monitor their monthly deposits. The payments you receive as the benefit can be reviewed by going on the mySocialSecurity account online to see any change.

It would have been pleasing if recipients of social security were to receive an increment on the amount they receive monthly from the government to $200 but that is not in the budget yet.

The official inflation for 2024 is a 3.2% COLA adjustment from their new starting rate beginning January. Payment schedules also do not change and people can track the amount of benefits they shall receive according to their birth dates. However, do not forget to refer to official SSA updates to be sure.

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