Social Security has confirmed that there will be a new disability benefit (SSDI) due on February 14. This payment will be for SSDI beneficiaries who meet 2 requirements.
However, not all will receive $195 more than in 2023. The January and February payments include the 2024 COLA increase, but some SSDI beneficiaries only get an average boost.
To get $195 you must have qualified for the largest disability benefit. That is, if you qualified for $3,627 in 2023, your new payment is worth $3,822 on February 14. So, you are receiving $195 more.
WHO CAN RECEIVE A DISABILITY BENEFIT ON FEBRUARY 14, 2024?
If you qualify for the February 14 payment is for 2 reasons. First of all, you must have started collecting disability benefits from May 1997, but never before that date.
Secondly, you must have your birthday from the first day of the month to the tenth. So, if your birth date falls from 1-10, your payment will be due in 48 hours approximately.
Those whose birthday is later, have another possibility in one or two weeks’ time. If you were on benefits before May 1997, your disability benefit is due on March 1.
SSDI AVERAGE AND MAXIMUM AMOUNTS
Average payments for disability benefits are much more frequent than maximum amounts. This is because a disability may begin at a young age. So, your check amount is reduced.
The average payment for SSDI is about $1,537 as of January 2023. As you can see, this group of beneficiaries cannot receive the largest boost. Their previous amount was $1,489, so they just get about $44 more per month in 2024.
The maximum SSDI amount for the February 14 payment is $3,822. However, this is only for those workers who have earned the taxable maximum for 35 years and filed late. Workers who worked in jobs not covered by Social Security cannot receive these benefits.