Supplemental Security Income (SSI) Benefits Increase For Everyone
Posted on behalf of Goldberg Finnegan, LLC on Feb 08, 2012 in Social Security Disability
There are over eight million people currently receiving Supplemental Security Income benefits. Unlike Social Security Disability benefits (benefits for people who paid into social security and are unable to work), Supplemental Security Income (SSI) is a program that provides payments to the blind, disabled, and some seniors, regardless of work history. After a freeze since 2009, SSI beneficiaries are finally receiving a cost of living increase in their SSI payments.
Effective this year is an increase of 3.6%, which maxes out at monthly benefits of $698 for one person, and $1,048 for a couple. This was announced by the Social Security Administration last October, after the Consumer Price Index was calculated for 2011 (as compared to the third quarter in 2008).
This is a welcome increase for many people with increasing expenses, particularly in a down economy. It will mean that individuals get up to an additional $24, and couples get an additional $37. It may not seem like much, but it can make a big difference for people on limited incomes who rely on SSI payments to make ends meet. Particularly important to many is more money to pay for increasing numbers of prescriptions.
If you have questions about Supplemental Security Income or Social Security Disability benefits, contact us at 1.888.213.8140, or online for a free consultation. We can help you to recover the money you've rightfully earned. (But please understand we do not represent you in your case until a retainer agreement is signed with our firm).
For More Information:
- Our main SSI/SSD webpage
- SSI Fact Sheet (detailing these and other 2012 changes)
- Social Security Administration Chart detailing the 2012 increase