The amount of Supplemental Security Income (SSI) and Social Security that recipients get each month is slated to increase by 2.8 percent in 2019. This cost-of-living increase is an automatic adjustment that is happening because of the current inflation in the country and because it’s mandated by law.
Dates on when this increase will go into effect show it will be staggered. The 8 million Americans who receive SSI will see their payment increase starting on Dec. 31. The 62 million people who receive Social Security each month in this country won’t see their pay raise until Jan.
Supplemental Security Income recipients who were receiving $750 per month, the maximum amount awarded by the federal government to individuals this year, will bring in $771 monthly in 2019. Those couples who were receiving $1,125 per month on an annual basis will see their payments increase to $1,157 a month in the new year.
The new federal cost-of-living increase is .8 percent higher than it was this year. The highest rate increase in recent history was in 2012. That year, the cost-of-living adjustment was 3.6 percent.
For those SSI recipients living in states that also award compensation, they may see cost-of-living adjustment making their rates increase on more than just the federal level.
When you’re suffering from a serious impairment, you’d likely do anything to go back and be able to live like you used to before you got hurt. It’s during the recovery process that many find out that they’re never going to be able to accomplish that though. If you’re unable to work due to a devastating disability or injury, then a St. Louis attorney can advise you on what options exist to help you cover your expenses.