Updating a blog post we brought you previously, the Social Security Administration was expected to announce an annual cost-of-living adjustment of less than 2 percent for Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) recipients.
According to the Associated Press, the adjustment will add about $20 each month to a typical Social Security beneficiaries’ check. The COLA was expected to be announced last week, and is set by the consumer price index based on inflation, which has been lower than historical standards this year.
The AP noted that gas and clothing prices are now lower than a year ago, but prices for meat, fish and eggs are up nearly 9 percent, and the overall cost for food is up slightly less than 3 percent. Additionally, medical costs are up 1.8 percent.
The Senior Citizens League projected the COLA to be 1.7 percent. For many, the news of the small increase is not great—according to the AP, since 1975, the COLA increase has only been less than 2 percent three times.
The AP reported that the COLA would affect 59 million Social Security recipients.
Do I Need to Speak to an Attorney about Social Security Disability?
If you have questions about SSDI or SSI, you can visit our Social Security FAQ page.
While it is good news that there will be a slight raise, it is still not enough for many recipients who live in poverty. It is our hope that the country’s lawmakers will do more to help those who are disabled or retired.
If you suffer from an illness or injury that leaves you unable remain employed, contact our Tulsa Social Security disability attorney.
Remember, you must show that your disabilities leave you unable to work to collect SSDI.
Troutman & Troutman, P.C. – Tulsa Social Security disability lawyers
Troutman Touts: There were no Social Security cost of living adjustments in 2010 and 2011.