The rising cost of living affects everyone, but it is especially hard for disabled people who depend on fixed or limited wages. People in the United States who get disability payouts and depend on them to meet their daily needs will be affected the most.
Because of this, the US Government has made changes to disability benefits every year based on the Consumer Price Index (CPI). These changes are meant to help people who receive disability benefits deal with the rising cost of goods and services.
The cost-of-living adjustment (COLA) is an annual change that is meant to keep the buying power of disabled people who depend on Social Security stable. Beneficiaries will get an extra nearly $100 a month starting in 2024.
This will be a big help for people who depend on these funds to pay for things like food, housing, and medical care.
The cost of living has been going up steadily, and families on fixed incomes have been having a hard time keeping their finances in order.
This increase comes at a very important time. Here are the main parts of this increase and the requirements to get these rewards.
Increased disability benefits: almost $100 more per month
A cost-of-living adjustment (COLA) means that people who get Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) will get about $100 more each month starting in January 2025.
The Consumer Price Index (CPI-W), which shows changes in the prices of basic goods and services, is used to figure out this increase every year.
The cost of living adjustment (COLA) will be 2.5% by 2025, which is a smaller rise than the previous year.
As an example, this change will mean a raise of about $42 for the average SSDI recipient who currently gets about $1,700 a month. The most that people who get SSI can get will go up from $943 to about $966 per person.
This change affects people who get other Social Security payments, like retirees, as well as people who get SSDI and SSI. Additionally, it is important to remember that when disability benefits go up.
So do other forms of financial aid that are linked to them, like food stamps and housing subsidies. This is good for the general finances of people who receive these benefits.
Eligibility for a disability payment
The Social Security Administration (SSA) has set certain requirements that you must meet in order to be eligible for Social Security disability payments.
These requirements are very strict so that these benefits only go to people who really can not work because of a qualifying medical problem.
The first thing you need is to have worked in a job that is covered by Social Security and have enough work credits.
Most of the time, you need at least 40 credits, and 20 of them must have been earned in the last 10 years before the injury. The exact amount of credits a person needs is based on their age.
The applicant must also have a disability that meets the SSA’s meaning of “total disability.” This means that the person’s medical condition makes it impossible for them to do any meaningful work.
The condition must have lasted at least 12 months or be expected to end in death. Health problems like cancer, heart problems, neurological diseases, and major mental disorders are some of the most common disabilities that qualify.
The application process can be long and hard to understand, so it is important to include all the medical records that are needed to support the application.
To decide if a person can get benefits, the SSA will look at both how well they can work and how bad their situation is. Applications are sometimes turned down, but the person can appeal the decision or ask for a review of the case.
Also see:-January 2025 Payment Increase Know which Social Security beneficiaries are affected by inflation