Getting hurt and needing to go on Social Security Disability is never easy. No one wants to be forced into this situation, but when needed, SSD can be a lifeline. In fact, Social Security and Supplemental Security Income and SSD benefits help over 70 million Americans every year. And for those on SSI, they will received a 1.3% benefits increase in 2021, according to the Social Security Administration.
The 1.3% increase is a cost-of-living adjustment will begin in January 2021 for SSD beneficiaries and SSI beneficiaries will see it on December 31, 2020. What does this mean? This means that the average SSI benefit of $1,261 per month will increase to $1,277 per month ($192 annually). SSD benefit amounts will increase on average $29 per month ($348 annually), from $2,195 per month to $2,224 per month. Beneficiaries can see their SSD and SSI payment details, including their COLA notice through their online Social Security account.
Disabled workers depend on SSD and SSI benefits as a financial safety net after a severe disability, and these annual COLA increases are critical. Unfortunately, these benefits are not easy to get though. And, when one needs it, they should contact an attorney.
Some Folsom, California, residents like their boss and hate their insurance company. Others, hate their boss and do not really care about the insurance company. Regardless, our firm is always on the side of the injured worker. Insurance companies do not care about the individual because as publicly traded companies they have a fiduciary duty to make money for their shareholders. This is where an experienced attorney can help.