Social Security - New 2024 Rules On Calculating SSI Benefits (PEATC)

Description:

Social Security - New 2024 Rules On Calculating SSI Benefits - Effective September 30, new rules are in place for how the Social Security Administration (SSA) decides the amount of your (or your family member’s) monthly SSI payment. Right now, SSA looks at all income and support a person receives. This includes income (from a job or other source), resources you have (there are specific limits and exceptions), and in-kind support and maintenance (ISM).

ISM is the support you get for food or shelter from someone living in or outside your household. So, if you are living with your family and they have been paying for your shelter (housing) and food expenses, that support is considered when calculating the amount of your benefit check.

This often results in a lower benefit amount unless you pay your “fair share” of these expenses, which involves a specific calculation set by SSA. Because of the new changes listed below, your (or your family member’s) benefit may increase.