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Cost of living adjustments to increase Social Security payments

On Behalf of | Oct 22, 2021 | social security disability

For the millions who receive financial support from the Social Security Administration, an increase in the amount of money they receive each month is welcome news. Individuals who receive Supplemental Security Income and other types of disability benefits are unable to earn a substantial income due to certain types of physical or mental disabilities. For these individuals, inflation and increases in cost-of-living expenses can be devastating. To address these issues this year, the SSA plans to raise monthly payment amounts. 

Cost of living adjustments 

Over the last few years, certain basic items and services have become dramatically more expensive as the country struggles with supply and demand issues. Those in California on a set income, such as disabled individuals receiving SSI payments, may be struggling. The SSA recently announced that benefits would increase by 5.9% in 2022, representing the largest increase in monthly payments since 1982.  

The amount is based on the automatic cost-of-living adjustment, a calculation based on inflation. Based on COLA, the maximum amount for individuals receiving SSI benefits will now be $841 per month, and couples will receive $1,261 per month. These increases will benefit the estimated eight million SSI recipients in the United States. 

Concerns about disability benefits 

Those who hope to secure disability benefits will find it beneficial to work with an experienced attorney at every step. This will allow one to get important answers and other information needed to successfully complete a claim. If a potential California applicant has concerns about disability benefits, he or she may find it helpful to begin by seeking an assessment of his or her situation.