The new United States Social Security Disability payments will appear in beneficiaries’ checking accounts very soon. And these payments are larger than payments for the same beneficiaries in previous years. The benefit payments in August 2024 are larger than in August 2023 thanks to the COLA, so we can get more money without the need to do anything.
This is certainly a big advantage over other United States benefits. While it is true that Social Security checks, both for Disability and for other reasons, do not increase tremendously each year, it is also true that they increase as set by the government to combat annual inflation.
Although some Americans have considered this COLA to be insufficient for years, any increase in Social Security Disability checks is welcome. The payment of these benefits means that we can currently have a check of up to $3,822, although not all Americans get to have a check that high.
How to get the 2024 COLA on Disability payments?
The truth is that each year’s COLA is automatically added to all Social Security benefits. Therefore, we don’t have to do anything to get the Social Security Administration to pay us in this year 2024 a little extra money over 2023.
However, it is also true that the increase will depend directly on several factors. To begin with, we must keep in mind that the United States Government decides this increase, so we cannot choose what will be the extra percentage that we will get each year. On the other hand, we must also bear in mind that the increase is a percentage and not a fixed figure.
Thus, some citizens may get $100 more than what they received last year in their Disability benefit, but other United States citizens will get a check for just a few dollars more. To find out the exact figure we have to add 3.2% to the benefit we had last year 2023. For every $100 we received in the previous year in this year 2024 we get $3.2 more.
The COLA increase in Disability benefits will happen again in early 2025. But we won’t know until October what the percentage increase will be in these cases, so we should keep this in mind when making an estimate of how much our Social Security benefit will increase for next year.
Who can apply for Social Security?
In the United States, Social Security benefits are provided to retired workers, disabled persons, their families, and survivors of the deceased. To qualify for benefits, individuals must accumulate sufficient work credits by contributing to Social Security through their jobs. Generally, workers can begin receiving retirement benefits at age 62, although full benefits can be accessed at a later age depending on the year of birth. Disabled persons are eligible for benefits if they have a recognized medical condition along with appropriate work credits. In addition, benefits are also available to spouses, minor children and, in certain situations, dependent parents of deceased workers.