Few things are more disheartening than being unable to work. After all, if an injury or illness prevents you from holding down a job, you are likely to struggle to support yourself and your family members. Fortunately, if you qualify for them, Social Security Disability Insurance benefits can help you make ends meet.
While the amount of your SSDI payments depends on a few factors, the Social Security Administration regularly makes cost-of-living adjustments. Because inflation is at near-record levels, SSDI benefits should increase substantially in 2023 for most recipients.
A comparatively large increase
According to the SSA, SSDI recipients should see an 8.7% increase in their benefits payments next year. This percentage is considerably higher than it was a year ago when the cost-of-living adjustment resulted in a 5.9% uptick. Indeed, the upcoming 8.7% increase is one of the higher ones on record.
Thanks to the SSA’s cost-of-living adjustment, it should be easier to pay for the goods and services you need to survive. Nevertheless, because living nowadays is expensive, you may wonder exactly when you should expect to receive a payment with the increase.
While some SSDI recipients might see it in their December 2022 payments, most should receive adjusted payments in January 2023. Remember, because the SSA automatically adjusts payment amounts for SSDI recipients, you should not have to do anything.
Still, you should check your January 2023 payment to be certain it reflects the 8.7% cost-of-living adjustment. If it does not, you may need to contact the SSA to resolve the issue.