As inflation continues to hike up the prices of consumer goods and living expenses in the U.S., the SSA makes sure its 71 million beneficiaries can still support themselves and their families with the annual cost-of-living adjustment (COLA). This is when the SSA increases checks by a certain percentage to ensure the purchasing power of…
Recently, the SSA announced that the cost-of-living adjustment (COLA) for 2023 is 8.7% – the highest increase in payments in decades. This boost in monthly benefits will begin in January 2023. This is the highest the COLA has ever been since 1981, which saw an increase in benefits by 11.2%. For the approximately 70 million…
Social Security Disability beneficiaries will likely be seeing an increase in their payments next year which may be the largest in decades. This is due to growing inflation and the continuously climbing cost-of-living in the United States, which informs the automatic cost-of-living adjustment, or COLA. The COLA is based on how any increase in the…
The Cost-of-Living Adjustment (COLA) was recently announced, and recipients for Social Security Benefits will expect to receive a 5.9% increase in 2022. This increase includes those who receive disability and retirement benefits from the SSA. As the highest COLA increase since 1982, this is a historical increase. The average COLA increase percentage over the past…
People with disabilities who receive SSDI or SSI will soon see their payments increase. 72 million Social Security and Supplemental Security Income recipients will see a 1.3% cost-of-living adjustment (COLA) to their monthly benefits beginning January 1st, 2021, an increase even smaller than last year’s. In 2021, the monthly federal SSI payment standard will be…
The Social Security Administration recently announced the cost-of-living adjustment (COLA) will be 1.6% in 2020. This increase applies to those receiving disability, retirement and veterans’ benefits. What is a COLA and How is it Determined? The COLA was created in order to increase benefits to account for the rising cost of consumer goods and inflation….
I will never forget you and the hard work you did to secure my Social Security Disability benefits. Thank you!
