You may be receiving an increase in your social security benefits as of 2019.
Each year social security announces the annual cost of living adjustment (COLA). Some years there is no increase, but usually there is an increase in the SSI benefit amount people receive . This is because the law requires that the federal benefit rates increase when the cost of living rises, as measured by the consumer price index for urban wage earners and clerical workers.
In general, this index rises when prices increase for the things the average consumer buys. This helps beneficiaries keep up with the changing cost of living. We all know prices have been rising and its harder and harder to keep up so the good news is, there will be a COLA for 2019.
Due to the rising index and cost of living, this year, in 2019, many Americans will see their social security and SSI benefits increase by 2.8%. Every little bit counts.
If you want to know your new benefit amount you can go online at you’re “my social security” account where you can find notices for retirement, survivors and disability beneficiaries. If you don’t have a My Social Security account, now is a great time to set one up. It will keep you informed and provide access to important individual updates such as your right to a cola and your benefit information.
Don’t worry though, social security has general information on its web site as well. You can go to:
https://www.ssa.gov/cola/ for more information about the 2019 COLA, direct from social security.
If you are disabled and have been out of work for more than a year based on a medically documented, severe condition (related to physical or mental health) and have been denied SSDI benefits, call Rice Law Office, PLLC at 603-528-5299 for a FREE phone evaluation of your claim.