Millions of Americans will find themselves between lucky ones to receive a juicy check of $1,657 dollars in the next few days. The beneficiaries are expected to receive a check for a larger amount thank what they received on 2021.
Keep in mind that the checks will be received according to the beneficiaries’ month of birth. Therefore, beneficiaries of this service must take into account the various days that it will take the stimulus fund to be sent; In addition to, the payment schedule that will be issued in the coming months.
In addition to the upcoming checks, there will also be an increase of $821 for Supplemental Security Income (SSI) recipients. These claimants were able to get two checks in December thanks to the new cost-of-living adjustment (COLA) and vacation, while another will arrive on February 1. As the Social Security Administration explains, the monthly SSI maximum increased from $794 per month in 2021 for one person to a monthly amount of $841 in 2022.
This affects many people in the US, with an SSA report in July finding that more than 7.8 million Americans receive SSI benefits.
Who is eligible to receive this stimulus check?
Let us remind you that the only people who can access this payment are the elderly who are receiving Social Security benefits and are enrolled in the COLA. Therefore, this payment is focused on retirees.
The increase in these checks comes thanks to the fact that it is expected to help the beneficiaries so that they do not suffer losses as a result of inflation. In this way they help people maintain their purchasing power.
COLA 2022 payments are delivered the second Wednesday of each month. Although those born at the beginning, middle and end of the month can request the stimulus from the second Wednesday of each month.