Are you someone who has trouble working because of a disability? You’re not alone. Many people in the world have disabilities that make it hard to work.
But there’s good news. The government offers social security disability benefits to help people like you.
These benefits are payments that the government gives to people who have disabilities and can’t work. The money is meant to help with things like medical bills and everyday expenses. Read on to learn what social security disability benefits 2023 has to offer.
2023 Cost-of-Living Adjustment (COLA)
Now, let’s discuss what’s new with social security disability benefits in 2023. First, the amount of money you can get each month has increased. This is called a cost-of-living adjustment, or COLA. The COLA means that your benefits will keep up with inflation, which is when the price of things goes up over time.
In 2023, the COLA is 8.7%. This means the average monthly benefit for disabled workers will increase from $1,277 to $1,388. The maximum monthly benefit for disabled workers will increase from $3,148 to $3,421. These increases may not seem like a lot, but they can make a big difference in your life.
SSDI and SSI Benefits
It’s also important to know that there are different types of social security disability benefits. The two main types are
- Social Security Disability Insurance (SSDI)
- Supplemental Security Income (SSI)
SSDI is for people who have paid Social Security while they were working for a certain period of time. If you qualify for SSDI, you can benefit from your earnings while working.
SSI, however, is for people with low income and resources, regardless of their work history. SSI benefits are based on your financial needs.
Qualifying and Applying for Social Security Disability Benefits
To qualify, you must have a disability expected to last at least a year. Your disability must be severe enough that you can’t do the work you did before or adjust to other types of work.
If you are a veteran and you’ve been deemed disabled due to your service, you may be eligible for benefits through the Department of Veterans Affairs (VA). The VA uses a disability rating system to determine the severity of a veteran’s disability and the amount of compensation they are entitled to.
To calculate your VA disability rating and compensation, you can use a VA percentage calculator. This calculator considers the severity of your disability and other factors to determine your rating and compensation.
It’s important to note that receiving VA disability benefits does not affect your eligibility for Social Security Disability Benefits. You can receive both types of benefits if you meet the eligibility requirements.
Maximizing Social Security Disability Benefits 2023
The social security disability benefits 2023 can be a lifeline for people with disabilities who can’t work. With the changes mentioned above, more people may be eligible for benefits or receive more monthly money.
Additionally, those looking to apply should take advantage of the resources provided to them by the Social Security Administration. If you think you are qualified, it’s worth applying to see if you can get the help you need.
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