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Social Security double payment in March: Who qualifies and what is the amount?
Due to the Social Security Administration’s payment calendar one group of beneficiaries will receive a double payment in March, another three. Here’s wh
The Social Security Administration (SSA) sent out payments to nearly 71 million Americans in February 2023. Due to the monumental nature of issuing so many payments, the agency spreads out when they are sent depending on date of birth, type of benefit and when a recipient first signed up for Social Security.
This creates a situation where every so often certain beneficiaries receive more than one payment in a calendar month. March will be one of those months, along with June, September and December in 2023. Another group of beneficiaries always gets double payments as they receive both Social Security and Supplemental Security Income.
Who qualifies for a double Social Security payment in March?
As mentioned those who receive both Social Security and Supplemental Security Income receive two payments every month. The agency issues one on the first of the month for Supplemental Support Income and a second on the third of the month for Social Security.
However, should the first of the month fall on a Saturday, Sunday or a Federal Holiday, the payment date is moved forward to the earliest business day. This is the case in April when the first falls on a Saturday, so the payment was moved to the Friday before, 31 March. The first payment of 2024 falls on 1 January next year which is a Monday, so that payment will be pushed forward to Friday 29 December 2023.
So for those who receive Supplemental Security Income, they will get a double payment in March. Those beneficiaries who also get Social Security payments will see three payments issued to them in March.
What is the amount of Social Security payments in March?
The Social Security Administration pays benefits to retired and disabled workers as well as their survivors. The amount that each beneficiary receives depends on several factors including when the worker began claiming Social Security and what their Primary Insurance Amount among others. The average monthly Social Security payment in January 2023 was $1,961 across all types of benefits according to agency data.
Supplemental Security Income is specifically targeted at adults and children with a disability and who have income and resources below certain thresholds. The support is also available for those aged 65 and over whose financial means place them below the thresholds.
As of January 2023, the average payment was $677 across all beneficiaries of Supplemental Security Income. The maximum amount was increased in 2023 to $914 for individuals and $1,371 for couples.