Many disabled individuals depend on Social Security Disability benefits as their primary source of income. However, inflation in living costs can often make getting by on this single resource for income extremely difficult. The Social Security Disability Lawyers with the law firm of Newlin Disability explain there may be more assistance available to these individuals through certain other benefits.
The Social Security Administration has taken two concrete actions to combat the rising prices of the goods and services we depend on for everyday living. Each year, the agency offers Social Security recipients an increase in their benefit payments. This increase is known as a Cost of Living Adjustment (COLA).
COLAs are determined by examining the specific increases and decreases in the past year in the costs of certain everyday items and services. These fluctuations are then input into a formula that calculates the increase each recipient should receive. Beneficiaries recently began seeing the 1.5 percent increase announced several months ago for 2014.
Suppose COLAs still don’t give recipients enough income. In that case, they can apply for Supplemental Security Income (SSI), which is offered to anyone with limited income who is disabled, blind, or over the age of 65-years-old.
Newlin Disability’s team of attorneys encourages anyone who receives Social Security Disability benefits but continues struggling to make ends meet to consider applying for SSI benefits.