Many Americans have struggled financially over the last couple of years for a few different reasons. One of the primary ones, though, is persistent near-record inflation. While there are some signs inflation might be moderating, many everyday essential items continue to be expensive.
If you receive Social Security Disability Insurance Benefits, the Social Security Administration plans to give you some help in 2023. Indeed, according to the SSA, SSDI benefits will increase by 8.7 percent. This increase represents one of the larger cost-of-living adjustments in history.
Schedule
You should not have to wait long to see higher payments, as the SSA began issuing larger checks to SSDI recipients on December 20, 2022. The SSA should include your higher payments in every payment you receive after that date, regardless of how you receive your payments. For most SSDI recipients, the first higher payment should arrive in January 2023.
Problems
The SSA automatically increases SSDI benefits to account for increases in the cost of living. Consequently, you should not have to take action to receive your COLA. If you do not receive it, however, you should reach out to the SSA. You can do so by calling or visiting a local office.
Applicants
If you are still in the SSDI application process, you do not have to worry about the COLA. After all, should the SSA approve your benefits application, you will automatically receive the adjusted payments going forward. Toward the end of 2023, the SSA will consider its next COLA.
Ultimately, even though it is not likely to make you wealthy, the 8.7-percent increase in SSDI benefits should make it somewhat easier to pay your living expenses.