Supplemental Security Income (SSI) recipients will receive a 5.9% increase in their payments starting in 2022. That means an average person receiving $1,000 per month in SSI benefits would gain an extra $60 per month. However, this increase is not exactly a raise.
In the last 10 years, Cost of Living Adjustments (COLA) for SSI benefits have averaged between 1-2% increases per year. However, the US experienced record high inflation throughout 2021, meaning the cost of living has gone up. This increase in Social Security payments is meant to help financially disadvantaged families adapt to the increased cost of living. For example, if you were used to spending $100 per month at the grocery store last year, you may find yourself spending $120 or more per month this year as a result of the increased cost of living.
As early as December 2021, SSI recipients will begin receiving COLA notices that will notify them of their increase and new payment amount, which is set to begin in January 2022.
If you need help filing for SSI or any other type of Social Security disability benefit, reach out to an experienced disability attorney today. The filing process can be long and drawn out, and one mistake could delay your benefits by years. The Khaki Law Firm is here to guide you through the disability maze, so contact us today for a consultation.