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COLA ADJUSTMENTS MEAN INCREASE IN SOCIAL SECURITY DISABILITY BENEFITS PAYMENTS

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The Social Security Administration (SSA) has announced a Cost of Living Adjustment (COLA) increase for both Social Security disability benefits as well as Supplemental Security Income benefits. Disability beneficiaries will receive a 1.6% increase in their benefits, applying to all Social Security disability benefits from January 2020.

Another important announcement by the SSA has to do with the increase in the substantial gainful activity (SGA) threshold. SGA refers to work that helps a person earn a certain amount of money. A person engaging in SGA is not eligible for disability benefits. Those levels have now been increased to $1,260 per month from $1,220 per month. This applies to non-blind beneficiaries. Blind or visually-impaired persons typically have a higher substantial gainful activity limit. The current limit is $2,040, and this has been increased to $2,110.

There has also been an increase in the Trial Work Period threshold for Social Security disability beneficiaries. This has been increased to $910 per month, from the current $880 per month.  Correspondingly, there has also been an increase in the threshold of Social Security benefits earnings that are subject to taxes.  That limit has been increased from the current $132,900 to $137,700.

To learn how you can begin the process of applying for disability benefits, contact this law firm.