Millions of people rely on Social Security Disability benefits to pay their monthly expenses because a physical injury or mental condition prevents them from working. People in Houston who receive SSD benefits are probably aware of how the government’s cost-of-living adjustments can affect their monthly payments. Recently, the federal government released the adjustment figures, known as COLA for short, that will kick in next year.
The COLA for next year is just 0.3% due to low inflation numbers. Although the government did not increase benefits at all between last year and this year, the COLA for next year is still barely even a drop in the bucket. For example, based on the average monthly payment for all Social Security recipients, the 0.3% bump amounts to a paltry $4 per month increase in benefits.
For many people who are struggling to get by on their existing disability benefits, the tiny increase in benefits for next year is not welcome news. However, it is not necessarily surprising given that since 2008, the COLA has increased by more than 2% just once, and it has seen no increase on three occasions.
Although the COLA for next year may not be welcome news to many Social Security disability beneficiaries, many other people are just trying to find a way to get benefits. This can be an especially difficult situation for people who have suffered a recent injury or illness and cannot maintain a full-time job to support themselves.
The application process to get disability benefits can be cumbersome and stressful. An attorney who specializes in Social Security can help people ensure that they have the best possible shot at securing benefits, though. Dealing with a debilitating health problem is difficult enough. People and their families who are in this situation can rely on an attorney to help them through the minutiae of the SSD benefits system in hopes of obtaining the compensation they need to allow them to focus on their health and well-being.
Source: Fortune, “Social Security Recipients Will Get Less than a $4 Increase next Year,” Oct. 18, 2016