If you’re already receiving disability benefits the amount of money you receive may increase in 2024 because of the Social Security Administration’s cost of living adjustment. Every year the SSA increases the amount of benefits that it pays because of the increase in the cost of goods and services that people need. If you are not already receiving disability but you have applied for disability or are planning on applying for disability benefits you may qualify for higher benefit than you think.
What Is The Most I Can Get On Disability in 2024?
For anyone that is receiving disability benefits from the Social Security Administration the maximum amount of benefits that you can receive per month starting in 2024 is $3,822. That’s a big bump from the previous maximum benefit which was $3,627. But the Social Security Administration’s COLA raised the maximum benefit that will be paid out in 2024.
If you’re receiving SSI for yourself or a child that has a serious medical illness the maximum benefit that you can receive increased from $914 to $943 for an individual and from $1,371 to $1,415 for a couple where both people are eligible for SSI.
Keep in mind that those are the maximum amount of benefits. Most people will receive less than that depending on their unique circumstances.
What Is the Average Disability Benefits in 2024?
The Social Security Administration announced that the COLA for 2024 would be 3.2%. Based on that increase the average disability benefit for disabled workers will increase from $1,489 to $1,537 per month. For people who were working but retired and plan on drawing their retirement benefit the average amount of benefits will increase from $1,848 to $1,907. All people who receive benefits from the Social Security Administration should see an increase in the amount of benefits that they receive starting January 1, 2024.
People who are just now applying for benefits or who will start receiving benefits in 2024 will receive the adjusted 2024 amounts of disability benefits.
What Impacts How Much Disability I Get?
There are many factors that influence how much Social Security benefit you qualify for. The amount of the Social Security Administration’s COLA increase is one of those factors. Other factors that can impact the amount of benefit money that you receive include:
- The average cost of living and the state you live in.
- Your medical condition.
- Your daily needs.
- Any medical needs you have like specialized medical equipment or in-home care.
- How long you worked before becoming disabled.
Fill out the Free Case Evaluation
If you’re applying for Social Security disability benefits or if you have applied and your application was denied you should speak with a disability attorney. A disability lawyer can help you navigate the application process and understand what benefits you qualify for. Fill out the Free Case Evaluation now to get connected with an independent Social Security disability attorney who subscribes to the website and may be able to give you personalized advice when it comes to filing for Social Security disability.