Cost of Living Adjustment
How does COLA affect SSI and SSD benefits?
Cost of living changes are a fact of life. For the most part, cost of living goes up from year to year. The Social Security Administration makes adjustments to
SSI benefits and
Social Security Disability benefits. These cost of living adjustments are referred to as COLAs. Every October the SSA evaluates your benefits based on increases in the cost of living. The Consumer Price Index is used to make this evaluation. For example, in October of 2011, the COLA was 3.6 percent. A new COLA will be announced in October 2012. You can see the annual cost of living adjustments by going to the SSA website. With COLA increases, the maximum Federal SSI amounts also increase.
According to the Social Security Administration (SSA),
Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 62 million Americans will increase 1.7 percent in 2013. The 1.7 percent cost-of-living adjustment (COLA) will begin with benefits that more than 56 million Social Security beneficiaries receive in January 2013. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2012.
If you have any concerns or problems regarding your application for SSI or SSD benefits, a dedicated lawyer can be of great assistance. We have been servicing individuals for 20 years with all aspects of Social Security benefits and the Social Security Disability process such as: the
taxes and benefits,
denied SSD benefits,
appealing the claim,
disability hearing and more.
Seek Legal Assistance from the Onset of Your Claim
If you need any assistance with Social Security benefits, we invite you to call us at our Sacramento office. We have helped thousands of Americans to receive benefits even when they had been previously denied. Our experience and knowledge can be of great assistance in determining the probable causes for denial and remedying them. We encourage clients to use our experience from the beginning, on the initial application. When clients take advantage of representation from our firm, we have seen that valuable time can be saved.