$2,400 Monthly Checks With $200 Increase Only For These Seniors: Know Eligibility & More Details

Rumors about a $200 increase to Social Security benefits, leading to $2,400 monthly checks, have left many Americans wondering if it’s true.

This article breaks down what’s actually happening, what to expect, and how it affects those receiving Social Security benefits, SSI, SSDI, or VA benefits.

Here’s what we know so far.

$200 Increase: Is It True?

Many have heard claims that Social Security checks will increase by $200 a month, bringing the total to $2,400 for seniors and others receiving federal benefits.

These rumors stem from the broader discussion on how inflation has strained fixed-income households, particularly retirees.

While it’s true that the government is considering ways to adjust benefits, there has been no official approval for a $200 increase as of now.

What’s Really Happening?

The Consumer Price Index (CPI) has shown that inflation has made it difficult for over 50% of seniors to cover basic living costs, even with their current benefits. This led to calls for a boost in Social Security payments to help offset the rising cost of living. While proposals for a $200 increase were discussed, they have not been approved yet.

Social Security Adjustments: What We Know

The U.S. government has issued regular cost-of-living adjustments (COLA) to Social Security payments based on inflation rates.

The COLA for 2024 is set at 3.2%, a much smaller increase than the $200 rumor suggests. This 3.2% increase, however, will still help to ease some of the financial strain caused by inflation.

While the bill proposing the $200 increase was introduced in Congress, it has not passed, so there is no $2,400 monthly check in place for 2024.

Is the $200 Increase Official?

To date, the bill proposing the $200 increase has not been officially approved by Congress. While discussions have taken place, no formal legislation has passed. The current increase through COLA adjustments will be 3.2%, starting in January 2024. This adjustment will provide a smaller increase in monthly payments compared to the rumors.

Payment Dates for $2,400 Monthly Checks

Though there is no $2,400 monthly check with a $200 increase in 2024, it’s important to understand when Social Security payments are typically issued. The payment dates are based on the recipient’s birth date, making it easier for seniors to track when their checks arrive.

Here’s a breakdown of the typical payment schedule:

Birthdays	Payment Date
1st to 10th of the Month	Second Wednesday
11th to 20th of the Month	Third Wednesday
21st to 31st of the Month	Fourth Wednesday

Upcoming Payment Dates

Month	Birthdays 1-10	Birthdays 11-20	Birthdays 21-31
January	10th	17th	24th
February	14th	21st	28th
March	12th	19th	26th
April	9th	16th	23rd

If your payment date falls on a national or bank holiday, the deposit will be made on the next working day.

Eligibility for the $2,400 Monthly Checks

While there’s no official $2,400 check for 2024, Social Security benefits—including SSI, SSDI, and VA benefits—are determined by various eligibility criteria.

To qualify for these monthly benefits, you must:

• Be 65 years or older, or
• Have a disability or be blind, or
• Have low income or resources (less than $2,000 for an individual or $3,000 for a couple).

If approved, benefits will be based on income level and other factors such as tax credits.

Fact Check: $2,400 Monthly Checks

There’s a lot of confusion surrounding Social Security payments, but here’s the truth:

• Claim: There will be a $200 increase leading to $2,400 monthly checks in 2024.
• Fact: False. The proposal for a $200 increase has not been approved. The official increase for 2024 is 3.2%.

However, even without a $200 increase, recipients should still keep track of their monthly deposits. You can monitor your payments through the mySocialSecurity account online to see any updates to your benefits.

While it would be great for Social Security recipients to see a $200 boost to their monthly payments, that hasn’t been approved yet.

The official increase for 2024 is a 3.2% COLA adjustment, starting in January. Payment schedules remain the same, and individuals can track their benefits based on their birth date. Make sure to stay informed by checking official SSA updates.

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