The Social Security Administration made three major changes in October, and it's not the COLA – it will affect retirees' checks

If you receive now Social Security Administration (SSA) You've most likely been looking for the Consumer Price Index for Wage Earners and Office Workers (CPI-W), which is released every month in the third quarter of this year. Concern about what COLA 2025 would look like was enormous. Nevertheless, the excitement has passed and the SSA has clearly stated that the increase will be 2.5%. Even if it does not seem significant, it has strengthened the economy's expectations about the behavior of inflation next year.

Nevertheless, the Social Security Administration does not cross its arms in determining the COLA, which refers to the amount by which benefits are increased, as well as other values ​​such as income limits, maximum taxable income, etc essential gainful activity (SGA) levels. She also advocates for the implementation of additional measures to change how the programs operate and hopefully make them more accessible and equitable for the American community. This idea guided the SSA for many years despite a limited budget.

How does social insurance plan to reduce the burden on customers?

This adjustment will impact retirees with the most demanding and challenging life circumstances, as well as those who are blind or disabled. We're talking about it Supplemental Security Income (SSI) Beneficiaries. As part of the Social Security Administration's efforts, a review of the process for applying for and maintaining this benefit has identified the need to reform and make it more efficient. One of the highlights of this SSI benefit is that one of the eligibility criteria for people applying as an individual without children is that they do not earn more than $1,971 or have assets of more than $2,000 . This amount is also determined based on any other benefits you receive. Especially those that do not come in the form of money, but rather help the applicant meet their basic needs.

These must be measured and added to your current monthly wages to determine whether or not you exceed the income limits. This increases your chances of receiving this benefit. This factor also affects the amount of money you receive in your monthly Social Security check, which is based on your monthly income. For this reason, the Social Security Administration requires that you notify them of any employment changes or economic adjustments so that your payment can be changed. The Social Security Administration found that the inclusion of food in the Benefits in kind and maintenance (ISM) The category significantly increased the complexity of the process. Therefore, this data is not taken into account when calculating SSI benefits and when deciding whether to participate in the program. However, further judgments will be required as the trial progresses.

Why is the Social Security Administration planning to expand its rent subsidy policy?

The rent subsidy guidelines apply to both SSI applicants and beneficiaries. It was originally implemented in seven states (Wisconsin, Vermont, Texas, New York, Indiana, Illinois and Connecticut) and included discounting rental assistance, such as: B. Discount rates when calculating the ISM and the additional benefit amount. It has now been expanded to cover the entire United States to ensure a more egalitarian regime and increase benefits for Americans.

What impact does the Social Security Administration update have on the budget definition for public assistants?

When you apply to the Social Security Administration, a so-called “deeming” procedure occurs, in which part of the income of the family you live with is attributed to you. This was often reflected in the benefits received by other family members, increasing your overall income and therefore limiting your ability to apply for or receive benefits Social Security Check reduced. The only way to mitigate the impact was to classify the family as a social worker household, requiring all members to receive public assistance. The SSA is now changing these criteria to include a family in this category if at least one SSI applicant or recipient and one other family member receive public benefits.