Since the United States government has introduced many systems to provide ease to its citizens. Social security benefits and COLA checks are one of those benefits. The US government has many rules and regulations for the ease of its citizens. The US government introduced many aids for the welfare of its citizens like for the retired person, needy, students, low-income, and disabled people. Social security benefits and COLA checks are one of those aids. And SNAP and SSI are the major aid-giving systems. Here we will see about Social Security Benefits Schedule And Arrival of COLA Checks In January 2022
Read this article thoroughly to completely know the social security benefits, supplemental security income, and the schedule , arrival of COLA (cost of living adjustment) checks issued in January 2022.
Social Security Benefits Schedule And Arrival of COLA Checks In January 2022
What are Social Security and Supplemental Security Income (SSI) Benefits?
Social security benefits are the type of aid that is given to some specific citizens of a country or state. Social security benefits usually include allowances, discounts, pensions, aids, and funds. In the United States, social security benefits are provided to some specific citizens like retired persons, disabled people, family or spouses of service dead persons, and needy people. Where SSI (supplemental security income) is a cash fund for those US citizens who are disabled or old enough not to make a living for themselves. Supplemental security income is also available for children and as medical funds. COLA (cost of living adjustment) falls under both the social security and SSI benefits that the US government provides to its citizens.
What is COLA (Cost of Living Adjustment)?
Cost of living adjustment or well-known COLA is an aid that which United States government provided to seventy million of its citizens. The main purpose of the task of COLA is to measure the inflation rate and then adjust social security and SSI funds according to the inflation so that a citizen should not face difficulties in bearing expenses.
What Benefits Do COLA Provides?
COLA works under the social security and supplemental security income (SSI) institutes. For the calendar year 2022, there is a 5.9% increment has been made. The members of social security benefits SSI can receive their COLA checks from January 2022. There is a total of 64 million plus people have registered themselves for the cost of living adjustment checks. And there are 8 million people also who can start receiving their benefits even from December 2021. If any citizen’s basic needs are not fulfilled with just social security fund, then he/she can also apply for supplemental security income (SSI). The best thing about COLA is that someone can get both the social security and supplemental security benefits under COLA, especially medical funds.
When Will First COLA Benefits Hit in January 2022?
The COLA checks for January 2022 will be the 1st round of benefits checks for this current calendar year. The COLA checks schedule for January 2022 is based on a specific distribution of dates which are distributed according to the beneficiaries’ dates of birth and the day of Wednesday falling in that time.
- For the date of birth falls in the first ten days of the month, the person will receive benefits on Wednesday, 12th January.
- For the date of birth falls in the mid-10 days of the month, then the person will receive benefits on Wednesday, 19th January.
- If the date of birth falls in the last 10 days of the month, then you will receive benefits on Wednesday, 26th of January.
- Supplemental security income is usually transferred on the 1st of the month.
- In case of receiving both the social security and SSI funds, the beneficiaries can receive their SSI benefits on 1st January and others on 3rd January.
Frequently Asked Questions (FAQs)
Who can get a COLA Check?
The COLA benefits are provided to those US citizens who are needy and cannot earn their living. Those people include disabled people, children, people 60 plus age or financially very weak.
How many funds do social security provides?
Someone can get a minimum of $1539 as a retirement fund and a maximum of $3345. The rest of the social security benefits completely depends upon your income and varies accordingly.
Is there a COLA check in 2022?
Yes, the US government has introduced COLA checks with a 5.9% increment in January 2022. But some of the beneficiaries also received their benefits in December 2021.
Can SSI beneficiaries receive a COLA in 2022?
Yes, COLA is a combination of social security and supplemental security benefits. If someone’s basic needs are not fulfilled with just social security benefits, then he/she can apply for SSI benefits too. Then both of these will be considered under COLA.
The Conclusion
The one thing to admit is that the US government is doing its best to provide relief to its citizens. Any eligible person can get the social security or supplemental security benefits or both under COLA. The schedule for providing COLA benefits in January 2022 is designed according to the dates of birth of the beneficiaries. There is a little difference for the person who is receiving both the social security and supplemental security income benefits.
