July 2024 Disability benefits for the month of July 2024 will have a new high from previous years. Thanks to the COLA, United States households collecting a Social Security benefit are able to maintain a good standard of living.
After all, the purchasing power of retirees and Social Security Disability beneficiaries cannot increase as workers do. Social Security checks do not increase each month and it is not possible to request an increase once we have started collecting.
Therefore, knowing how much we will get each month is very important. And the July 2024 Disability payment will be 3.2% more than the July 2023 payment. This is certainly a very big advantage.
Maximum Social Security Disability payment in July 2024
Social Security checks reach new numbers every year, as we have already discussed. This makes that in the coming July 2024 we will get the same amount as in the previous months. So we should know that the July payment will be the same as in previous months this year.
Thus, this year’s maximum Disability payment reaches $3,822. This amount has not been reached before in all of history, but it is true that it is not for all Americans. Getting such a payment requires having maximized the check in advance, something that is not available to all recipients.
Who gets the next Disability payment?
On July 3rd the Social Security Administration will send out the new retirement checks. Within those checks are payments for Disability, age and other reasons.
So if you have a Social Security check and you meet one requirement, the July 3rd payment will be for you. That requirement is that you have had the benefit since before May 1997. Only in this way will we be able to have the benefit money available on that day.
Likewise, the method of collection is also important in order to get the payment as soon as possible. If we have Direct Deposit, the Social Security check, whether for Disability or otherwise, will appear immediately in our pocket. If not, it will take a few days for the money to appear, but it will arrive anyway.