Retirees Will Now Receive More Money For Social Security

May 15, 2024

Retirees will now receive more money for social security soon as Americans nationwide prepare for two checks in one month.

Supplemental Security Income recipients can expect to receive their payments every month.

SSI is a monthly benefit program operating under the Social Security Administration that intends to help Americans with disabilities or older adults with low income.

The checks are administered on the first of every month, excluding when it falls on a weekend or holiday – meaning recipients should check their bank accounts for their payment today.

Will retirees receive more money for social security?

Due to this year’s cost-of-living adjustment (COLA), beneficiaries can now receive a maximum check of $943 or $1,415 for couples.

However, it’s important to note that your amount may be lower based on your income, certain family members’ income, your living situation, and other factors.

Some states also offer an extra payment called a “state supplement” to help with food and shelter costs.

Now, because June 1st falls on a Saturday this year, SSI recipients will see two checks in May, with payments dropping on May 1st and the 31st.

Recipients have already received their first check this month and can expect a second one in two weeks from today.

Adults and children might be eligible for SSI if they have:

Little or no income, and
Little or no resources, and
A disability, blindness, or are age 65 or older, per SSA.gov.

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Also Read: SNAP Benefits Will Now Increase For The Year 2024

Other Economy News Today

Americans can now claim up to $5K in this lawsuit settlement after a company agreed to a massive data breach payout.

Lincare Holdings, a medical device company, is paying out millions after a data breach settlement.

The settlement followed a leak of patients’ personal information back in 2021.

After the breach, patients sued, bringing a class-action lawsuit that alleged the company could have prevented the hack, according to Top Class Actions.

Now, Lincare is paying out $7.25 million in amounts up to $5,090 to settle the lawsuit.

The company did not admit any wrongdoing.

The deadline to file a claim is April 15, 2024.

Lincare Holdings manufactures devices to treat asthma, COPD, and other respiratory diseases.

The class action lawsuit impacts anyone whose data may have been leaked by the 2021 breach.

The court, which is managing the settlement, needs proof of certain expenses before paying anyone.

These can include invoices and receipts for credit monitoring services, according to the settlement website.

Anyone who qualifies for the cash can also opt for free credit monitoring for a year.

You can also be reimbursed for up to four hours of lost time at work, with a value of $80.

Those who lived in California at the time of the data breach can qualify for an extra $90.

The top payouts may be $5,090 in total.

Claim forms can be mailed to the settlement administrator at:

Lincare Holdings Inc. Class Action
c/o Kroll Settlement Administration LLC
PO Box 225391
New York, NY 10150-5391

Claims can also be submitted online.

Thanks in part to the strict privacy requirements surrounding medical information, millions are going out to patients over data breaches.

Wright & Filipps, a prosthetics company, also recently agreed to pay $2.9 million after a data breach.

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Also Read: Famous Retailer Is Now Laying Off 614 People in California

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