The benefits will be paid out on a different day of the month based on the beneficiaries’ birthdays. Any birthdays that fall between the first and the 10th will be paid on the second Wednesday of each month. Those born between the 11th and 20th will be paid on the third Wednesday of the month. And those born between the 21st and 31st will be paid on the fourth Wednesday of the month. Now there are some exceptions to the benefit payment schedule to keep in mind. As 2022 nears and beneficiaries await their first payment of the new year, the Social Security Administration noted there are several exceptions to the new schedule.
For example, payments will instead be sent on the third of each month if you meet any of the following criteria: One, you first filed for benefits before May 1997; Or, you are receiving both Supplemental Security Income and Social Security payments; Or, the state pays for your Medicare premiums; and lastly, if you live in a foreign country. For those who receive SSI benefits but do not receive Social Security payments, your scheduled payment date will be on the first of each month. In other news, regarding the push to grant $1400 stimulus checks for Social Security beneficiaries, the petition created by the Senior’s Citizen’s League to raise support for the bill has reached over a million signatures, but there have so far been no national polls conducted to gauge the public’s opinion of the idea.
As of yet, leaders on Capitol Hill have been silent on their support or opposition to a targeted stimulus check for seniors. It also seems that leaders pushing for the Build Back Better Act are worried about shifting focus away from this legislation by proposing the sending of another direct payment. The Senior’s Citizen’s League is aware of this political constraint and hopes that it can become a major issue next year. They believe that Congressional support can be won as long as the proposal continues gaining enough support among seniors. This is why it’s important to make sure you sign the petition so we can keep this proposal on the table, and attract the attention needed to push this through to fruition. However, the Center on Medicare and Medicaid announced a 14.5 percent increase in the price of the Medicare Part B premium, which is subtracted from Social Security beneficiaries’ checks each month. From 2020 to 2021, the price only increased two percent, showing the impact that inflation is having on the healthcare market. After the increase was announced, Mary Johnson, a Social Security and Medicare policy analyst urged leaders to take action and warned that “The Part B increase from $148.50 to $170.10 per month is the highest since 2016 and will consume the entire annual cost of living adjustment of Social Security recipients with the very lowest benefits, of about $365 per month”. This is disappointing news for a lot of seniors who have been struggling not only from the pandemic, but from skyrocketing inflation, which has directly caused a sharp rise in food and healthcare costs.
On Friday, November 19th, the House of Representatives passed the Build Back Better Act. And while it does not include a stimulus check for those on Social Security, it does include some benefits for seniors. These include the expansion of Medicare to include hearing services, and provisions that will grant the government power to negotiate limits on drug prices with pharmaceutical companies each year. This is especially important so as to prevent pharmaceuticals from raising drug prices too high, effectively rendering prescription access more difficult and complex for struggling seniors.