The Social Security Administration (SSA) recently announced a 2.8% increase in benefit payments for 2019. A detailed story on the increase—the largest adjustment since 2012—is available here.
The cost of living adjustment (COLA) will benefit both military retirees and veterans receiving disability benefits through the Department of Veterans Affairs (VA). Last year’s increase was 2%, and the previous three years amounted to only 2% combined. Based on $1,500 in benefit payouts each month, the 2.8% COLA increase would provide the recipient with an additional $500 over the course of a year.
Setting the Baseline
Current law allows for automatic COLA increases for those who receive Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) through the SSA without congressional intervention. Other federal agencies, including the VA, base their yearly calculation of benefit reauthorizations on the SSA’s COLA figures. While veterans’ advocates have long pushed to make these COLA adjustments automatic, they have had little success.
The Real Effect
The change will go into effect in January 2019. The law will raise disability benefits, compensation for dependents, clothing allowances, and other benefits. Officials from the SSA indicate more than 67 million Americans will benefit from the increase—which is based on both current and predicted inflation rates.
We Can Help
If you are disabled and unable to work, call Disability Attorneys of Michigan for a free confidential consultation. We’ll let you know if we can help you get a monthly check and help you determine if any money or assets you receive could impact your eligibility for disability benefits.
Disability Attorneys of Michigan works hard every day helping the disabled of Michigan seek the Social Security Disability and Veterans Disability benefits they need. If you are unable to work due to a physical, mental, or cognitive impairment, call Disability Attorneys of Michigan now for a free consultation at 800-949- 2900.
Let Michigan’s experienced disability law firm help you get the benefits you deserve.
Disability Attorneys of Michigan, Compassionate Excellence.