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  • Writer's pictureVicki Corr

2024 COLA updates

For the 2024 Cost of Living Adjustment, those on Disability will see an increase of 3.2%.

For those looking to file for Disability benefits, the maximum monthly income before taxes will be $1,550.00. This is the maximum one can earn on the job per month and still be below the SGA threshold for Step 1 of the determination process. If you are making more per month than $1,550.00 pre-tax (Gross), you do not qualify for disability benefits, even if your medical condition is severe.

For those already receiving Disability benefits (SSDI), the monthly amount that will trigger a Trial Work Period (TWP) will be $1,1100.00 per month. This means that if you are working and receiving SSDI benefits if you make more than $1,110.00 per month before taxes, that amount of income will put you into a period where you can work and still receive benefits for a limited period of time before your SSDI benefits will be stopped. It is important to make sure you understand this before you decide if working and receiving disability benefits is appropriate for your situation.

The maximum monthly SSI benefit will rise to $943.00 per individual person. The Government plans on continuing to reduce the SSI benefits for housing and food if you are not responsible for paying for your food and/or housing. The decrease for SSI recipients living with others who are supporting the disabled person will be $311.00 per month. Those who wish to work while receiving SSI benefits will have further reductions of their monthly check and must follow all the requirements or risk having a significant overpayment that will have to be paid back to Social Security.

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