Every year the Social Security Administration has to do an assessment of the programs funded under Social Security. There are retirement benefits, disability benefits among others. For disability benefits, the COLA, or cost of living adjustment, can help to adjust for inflation or other factors that can impact the effectiveness of income. Sometimes the disability program can get updates based on other factors as well.
According to the report released by SSA, disability income thresholds should be rising across the board in 2020. Across the board, the SSA reported an increase of 1.6 percent of those receiving benefits across the board in 2020. This isn’t as much as a few recent years, but it equates to slightly more money per month for the average Social Security disability recipient. While there is some disagreement about how accurate the COLA is in determining actual cost of living for those receiving benefits, it’s the standard as of now.
To get the increase in Social Security disability set to hit in 2020, you would of course have to be approved for disability benefits. Lots of health conditions or injuries could qualify a person to receive Social Security disability. The key is that it has to last for one year or more or be predicted to last one year or more, to qualify. Other shorter-term injuries would seek different disability or workers’ compensation benefits.
Depending on how you were injured, a personal injury suit may also be an option on the table. Wherever you are at with your injury or illness we can help to provide answers. We’ve guided countless clients through the process of Social Security disability.