The 2024 increase however is expected to much smaller as inflation cools, with estimates and current CPI trends putting the2024 Cost of Living Adjustment (COLA) between 3%and 3.4%. This would be equivalent of a $40 to $60 monthly increase in SS and SSI benefits...
The amount of the monthly disability benefit is based on the Social Security earnings record of the insured worker. What is an initial claim? An initial claim is the ‘first claim’ within a 60 day time period, meaning you have not had an open claim within a 60 day period. This is whe...
Special Considerations Most states will also add money to the federal SSI payments. This added money will increase both the allowed income level for eligibility and the amount of the monthly SSI payment. The amount of the supplement varies from state to state.6 According to the SSA website, A...
SSD vs SSI? Social Security Disability (SSD) insurance pays monthly cash benefits to people who have paid enough FICA taxes to qualify, and are now unable to work because of a disability.
We all know that money is needed when establishing a business. Before you can embark on your plan, it will be wise to ensure that you have the required capital to establish your business. The amount of money you will need will depend on the type of business you want to develop. It wou...
Background Since monthly payments under the Social Security program first began, the law has recognized that there would be some beneficiaries unable to manage their Social Security benefits in their own best interests. Section 205(j)(1) of the Act provides for the appointment of a representative...
The Social Security Administration stopped mailing SSI checks March 1, 2013. From that point on, nearly all SSI recipients had to sign up for direct deposit to their checking or savings accounts. Rare exceptions are allowed. You may still be able to get a monthly check if you're mentally ...