The Social Security Administration will soon start sending the new amounts for the year 2024. Americans on disability benefits can receive up to $3,627 in 2023. However, this new maximum amount will become $3,822 in 2024.
Whatever the amount you receive for your disability benefits, you will no longer receive it because of the 2024 COLA boost. Therefore, you will get a rise and you will take advantage of collecting 3.2% more.
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Thanks to these COLAs, the Social Security Administration makes sure that disability and retirement beneficiaries get more money when there is inflation. In this way, SSDI and SSI recipients can maintain their buying power.
NEW SSDI AMOUNTS FOR 2024
If you qualify for an average payment worth $1,489, the Social Security Administration will also increase your disability benefits by 3.2%. Therefore, you will get a higher increase than in average COLAs.
The latest COLA fact sheet claimed that Social Security Disability Insurance beneficiaries will receive about $1,537 in 2024. Thus, they will receive about 48 dollars extra per month.
If your SSDI payment is higher, your disability benefits increase will seem higher too. Those who receive $2,000 on SSDI will get $2,064 in 2024. So, as you can see they will get 64 dollars extra each month.
Some even may get $3,000 and their SSDI payment will be worth $3,096 in 2024. If you get less than the average disability payment it could be about $1,032 if you get $1,000 in 2023.
SSI BENEFICIARIES WILL ALSO GET MORE FOR THEIR DISABILITY BENEFITS
Regardless of the way you qualified for Supplemental Security Income, all recipients will get 3.2% more in 2024. The largest payment possible will be $1,415 if you are an eligible couple in 2024.
So, if you did not qualify for SSDI and just get SSI, you will get more money next year. Those who get both SSDI and SSI disability benefits will also get the same increase. The thing is not everyone gets the same number of dollars, but they all get 3.2% more.
A single person on SSI can get up to $943 in 2024, up from $914. Even if you can just get up to 29 dollars extra per month, it will be essential. COLAs do not seem to be enough for people on disability benefits, but they come in handy.
People on any disability benefits may qualify for SNAP benefits. This is a great opportunity to collect payments to buy food every month. So, it is not enough, apply for Food Stamps and get up to $973 if you are 4.