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 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 COLA Checks of March 2022
Read this article thoroughly to completely know the social security benefits, supplemental security income, and the schedule of COLA (cost of living adjustment) checks issued for March 2022.
Social Security Benefits Schedule and COLA Checks of March 2022
What is Social Security 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, aid, 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 the United States government provides to seventy million of its citizens. The main purpose of the 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, a 5.9% increment has been made. The members of social security benefits SSI can receive their COLA checks from January 2022. There are a total of 64 million plus people who 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 a 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 social security and supplemental security benefits under COLA, especially medical funds.
When Will the First COLA Checks Arrive In March 2022?
The COLA checks for March 2022 will be schedule the 3rd round of social security benefits checks for this current calendar year. The COLA checks schedule for March 2022 is based on a specific distribution of dates which are distributed according to the beneficiaries’ dates of birth.
- If the date of birth falls in the first ten days of the month, then the person will receive benefits on Wednesday, 9th March.
- If the date of birth falls in the mid-10 days of the month, then the person will receive benefits on Wednesday, March 16.
- If the date of birth falls in the last 10 days of the month, then you will receive benefits on the 23rd of March.
- 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 March and others on 3rd March.
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 social security or supplemental security benefits or both under COLA. The schedule for providing COLA benefits in March 2022 is designed according to the dates of birth of the beneficiaries. It is a little different for the person who is receiving both social security and supplemental security income benefits.
Frequently Asked Questions:
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 years old or financially very weak.
How many funds does social security provide?
Someone can get a minimum of $1539 as a retirement fund and a maximum of $3345. The rest of the social security benefits completely depend upon your income and vary 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.