Disability benefits are of great support to the millions of Americans who have already received them. Social Security for Disability (SSDI) payments could be worth up to $3,627 in 2023.
However, this will soon come to an end as there will be a new maximum amount for 2024. From January 3 onwards, the new maximum amount for disability benefits will be $3,822.
After a 3.2% COLA increase, SSDI the benefits will be higher. Disability benefits it may not be as high as pension income. Keep in mind that a disability can prevent you from working and pay more in Social Security taxes. So this can significantly reduce the size of your monthly checks.
SSDI PAYMENTS IN JANUARY 2024
The Social Security Administration (SSA) has revealed the new paydays for these citizens disability benefits. The first payment for Social Security SSDI beneficiaries on or after May 1997 will be January 10. Sure, as long as they meet one requirement.
The requirement set by the administration to collect an SSDI payment on January 10th is to have a birthday from 1-10. Therefore, if you started receiving benefits after May 1997 and your birthday is one of the first ten days of the month, this check will be yours.
some disability benefits it won’t arrive before January 17th. This is because this group of SSDI recipients must have a birthday between the 11th and 20th. Otherwise, they cannot redeem this payment. The last one SSDI verification will be for those whose date of birth is from 21-31.
Therefore, they will not get theirs SSDI checks until January 24, 2024. If you started collecting SSDI benefits before May 1997, your payment day will be January 3. So you don’t belong to the Wednesday payment group. SSDI arrives for some on the second, third, and fourth Wednesday of the month.
DISABILITY BENEFITS AND NEW AMOUNTS IN 2024
Those who receive disability benefits could receive an average of $1,489 in payments in 2023. After the Social Security increase, their monthly SSDI benefits will increase slightly.
It is true that this increase will be less than in 2023. The 8.7% increase in the 2023 COLA was the highest in 4 decades, so it is not a common occurrence. Social Security typically increases benefits by 2%.
That’s the average COLA boost, so the 2024 COLA boost isn’t that bad. The thing is, the higher your disability benefits The more money you will receive after the COLA increase.
If your SSDI benefits are too low and your financial situation has deteriorated, apply for SSI. They are too disability benefits and they are a supplement for those receiving pension or SSDI payments.