As you have probably heard, the United States is seeing record inflation in consumer prices, causing increases in fuel, food, clothing, and other goods and services. This has been a source of major concern for those who are disabled and dependent upon benefits to pay their living expenses. The good news is that people receiving disability benefits will see relief in 2022. Whether you are facing disability or currently receiving benefits, you can contact a Tampa disability attorney to make sure you will get the benefits you need.
COLA Increases Explained
Every year, the Social Security Administration adjusts benefits to reflect any increase in the average cost of living. This adjustment, referred to in shorthand as “COLA” (cost of living adjustment), is based on the consumer price index (CPI). These adjustments apply to both SSI and SSDI payments and occur automatically. A Tampa disability attorney can review your current benefits plan and make sure you are receiving all of the benefits you deserve.
Largest COLA Increase in Decades
For 2022, SSI and SSDI payments will increase by 5.9%, the largest COLA adjustment in almost 40 years. This will bring tremendous relief to those who depend on their disability benefits to pay their daily living expenses. If you have felt the pinch these last few months thanks to inflation, this adjustment will bring hope for the next year.
What Do I Need to Do to Get My Increase?
The 2022 COLA increase is automatic for both SSI and SSDI recipients, which means that you do not need to do anything in order to receive it. You should have already received a notification of the increase, and you should see the adjustment reflected in your benefit payments beginning in January 2022. If you haven’t received a notice or seen any change in your benefits, you should contact a Tampa disability attorney for help.
What Happens if Prices Continue to Rise?
Many people are worried that prices for goods and services will continue to rise which is a valid concern. Unfortunately, the COLA adjustments are made only once per year, absent action by either Congress or the President. No one can predict what will happen in the future, but we hope that the current increase will be sufficient for the months going forward.
Need Help Navigating the SSI/SSDI Benefits Process? Contact Tampa Disability Attorney Mike Murburg Today
Mike has been helping people with disabilities since 1996 and understands just how vital social security benefits can be. Unfortunately, figuring out how to qualify and get your claim approved can be difficult and denials are common. Mike can help you get the benefits you need as quickly as possible. To discuss your claim and how we can help, call us today at 813-264-5363 or complete our online contact form to schedule your free consultation.