Social Security Disability Beneficiaries Receive 0.3% Increase This Month
Allsup explains importance of cost-of-living adjustment and other reasons to apply for SSDI with empower by Allsup®
Belleville, Illinois — Jan. 9, 2017 — Social Security Disability Insurance (SSDI) beneficiaries receive a 0.3% increase with the cost-of-living adjustment (COLA) this month, according to Allsup, which has helped more than 275,000 people with severe disabilities receive their SSDI benefits.
“Though it is small this year, the COLA is an important feature of SSDI benefits and one of several reasons why you should apply for Social Security disability after a severe, work-disrupting disability,” said Tricia Blazier, Allsup personal health and financial planning director.
The COLA increase is designed to help protect Social Security disability benefits against the cost of inflation. It’s estimated to add about $4 per month, or $48 per year, to benefits in 2017. The average SSDI benefit increases to $1,171 from $1,167, according to the Social Security Administration.
Additional benefits from applying for SSDI include regular monthly income, medical benefits through Medicare, protection for long-term disability benefits, protected retirement benefits through the retirement “freeze,” dependent benefits, and return-to-work incentives.
“Social Security disability benefits can be incredibly important to your future, especially if you must leave the workforce for more than a year,” Blazier said. “The important thing for most American workers to realize is that this may be their only disability insurance protection. They have the right to apply for benefits and the opportunity to eventually return to work, if and when they medically recover.”
Allsup offers an easy-to-use dual purpose online tool—empower by Allsup® to quickly determine if someone is likely to be eligible for SSDI benefits. Online visitors can also apply for Social Security disability with Allsup as their representative, and benefit from expert advocacy for their disability insurance claim. Through empower, SSDI applicants also can learn about the benefits of returning to work.
First-time applicants who choose Allsup have a 50% higher success rate with their SSDI application compared to the national rate at Social Security. To qualify for SSDI benefits, individuals must have paid FICA payroll taxes, usually worked five of the last 10 years, and have a severe work-disrupting injury or illness that is expected to last at least a year, or is terminal. Applicants also must be under full retirement age (65-67).
Get started with empower and take a Free SSDI Assessment.