Social Security Disability

A new year can prompt new changes for Social Security and their applicants. Multiple sources are claiming that there will be 3 major changes for the program. Since the changes that are only proposed, there is no guarantee they will go into effect in 2021. In addition to the 3 major changes, it is possible that other changes and statues can occur as well. In 2021, it is important to stay informed about Social Security and any new adjustments that they may make. The 3 major potential changes are listed and described below.

There will be a 1.3% cost-of-living adjustment.

Beginning in January, the annual cost-of-living adjustment (COLA) will be set at 1.3 percent. Social Security states that cost-of-living adjustments allow Social Security and Supplemental Security Income (SSI) benefits to keep pace with inflation. The Social Security Administration determines a formula to calculate COLAs. According to AARP, the monthly Social Security benefits will increase by $20 for the majority of retired workers. As a result, the average annual benefit will be approximately $1,543. Previously, the annual amount was estimated to be $1,523 in 2020. In addition, retired couples and disabled workers will also receive an increase in COLA. Retired couples can potentially receive an increase of $33, and disabled workers can receive an increase of $16. Overall, the greatest monthly payment that people can receive from Social Security would be $3,148, which is an increase from $3,011 in 2020.

Since it has been established, people have believed certain myths about Social Security Disability. However, not all information that is told about Social Security is correct. For example, statements can be overexaggerated or fabricated. It is important to research information about Social Security directly in order to receive accurate information and facts. Listed below are 10 myths that are common to hear about Social Security Disability. To find the information contained in the following explanations, visit the Social Security Administration’s website at www.ssa.gov.

A person needs to be disabled for a year before they can apply for disability benefits.

This myth is not true. The SSA lists in their Blue Book that a person qualifies for benefits if they have a disability as a result of an injury or illness that is predicted to endure for at least 12 months. If an employee is diagnosed by a medical official that states their injury will last for over a year and they will be unable to work, they should apply for Social Security Disability as soon as possible.