Beneficiaries of Social Security who are currently receiving payments are likely to see a small increase in monthly benefits. There was a cost of living adjustment beginning in in January 2013.
Social Security instituted a 1.7% increase in the annual cost-of-living adjustment, and this will result lead in a slight increase in monthly benefits for Social Security beneficiaries. The increase is modest, but as Social Security Disability lawyers see it, even a slight increase over time can add up.
Based on an average monthly Social Security Disability of $1111.68 in November 2012, the increase will probably add up to about $19 per month. That works out to around $220 starting in January 2030.
The Cost-Of-Living Adjustment is primarily calculated on the 3rd quarter increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers.
If you believe you are eligible for disability benefits, you can apply for Social Security Disability benefits online at www.ssa.gov. You can even apply by calling a toll-free number, or making an appointment with your local Social Security Office.
There is no timeframe before which you must file your disability claim, but it is necessary that your disability have lasted for a period of 12 months, or be expected to last for 12 months, in order to be approved.
However, even if you meet these conditions, there is no guarantee that your claim will be approved. There is also no guarantee that you’ll receive a decision from Social Security for days, weeks or even months. Social Security Benefits claims can take a very long time to process, and even after months of processing, your claim could be denied.
Lisa Siegel is a Social Security disability lawyer helping persons with disabilities in the metro Atlanta region recover their rightful disability benefits. If you are eligible for Social Security, and have had a claim denied, speak with us to learn your rights.