OpenTheBooks CEO John Hart joins Varney & Co. to debate long-term Social Safety and Medicare deficits as fiscal pressures mount.
Some Social Safety beneficiaries will obtain two checks this July as a quirk within the calendar shifted the cost timeline for an adjoining month.
The Social Safety Administration (SSA) ordinarily disburses funds for Supplemental Safety Earnings (SSI) on the primary day of a given month. The SSI program gives month-to-month funds to sure older adults who’ve little or no earnings, in addition to to disabled people, which differentiates it from Social Safety’s customary retirement advantages.
When the primary of the month falls on a weekend or a federal vacation, SSI funds for that month are made on the final enterprise day of the previous month to make sure that beneficiaries have obtained their funds earlier than the brand new month begins, they usually face potential bills.
Because of the manner the 2026 calendar falls, two SSI funds will exit in July – one went out final week on July 1, whereas one other will exit on Friday, July 31, for the month of August as a result of Aug. 1 falls on a Saturday.
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Some Social Safety beneficiaries will obtain two months of profit checks in July attributable to a calendar quirk. (Getty Photographs/inventory)
The 2026 calendar will trigger this dynamic to play out two extra instances this yr for SSI funds.
Each October and December will see a pair of SSI funds exit to beneficiaries attributable to November 1 falling on a weekend and January 1 being a federal vacation on a Friday.
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SSA adjusts cost dates for Supplemental Safety Earnings (SSI) advantages based mostly on the calendar and when the beginning of the month falls. (Stefani Reynolds/Bloomberg by way of Getty Photographs)
SSI funds are usually made by way of direct deposit, although beneficiaries with out financial institution accounts or who wish to obtain the funds via a unique mechanism can get them on Direct Specific playing cards.
SSA moved to discontinue paper checks on the finish of the federal authorities’s final fiscal yr in September following a Trump administration order earlier in 2025 that mandated all federal funds transition to digital transfers, resembling direct deposit to financial institution accounts or transfers to debit playing cards.
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Most Social Safety advantages are paid by way of direct deposit. (Mark Felix/The Washington Put up)
Knowledge from the SSA confirmed that as of final September, greater than 68 million People had been receiving Social Safety advantages and of that determine, round 390,000 or 0.6% had been receiving paper checks.
The SSA web site presents strategies by which beneficiaries can enroll in direct deposit via the My Social Safety platform, or by cellphone via both the SSA or the Treasury Division’s digital cost answer heart.
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