Belleville, Illinois, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Individuals who receive Social Security Disability Insurance (SSDI) benefits will see a 5.9% increase in their monthly benefit in 2022, according to Allsup, a nationwide representation services provider that has helped more than 350,000 people receive SSDI benefits.
This increase is a result of the annual cost-of-living adjustment (COLA) that is applied by the Social Security Administration (SSA). The adjustment will take effect in January 2022, and it’s the highest increase since a 7.4% increase assessed in 1982.
“This 5.9% increase is an attempt to keep up with inflation and is a very important benefit for SSDI recipients who face ongoing medical and living expenses,” said Steve Perrigo, Allsup vice president. “For those former workers living with serious illness and severe disabilities, SSDI can provide a much-needed financial backstop.”
More than 156 million U.S. workers are insured for disability insurance through the SSDI program and pay for this coverage through their FICA payroll taxes.
The average monthly SSDI benefit will increase to $1,358 in 2022 from $1,282 in 2021, which is an increase of $76 per month or $912 annually, according to the SSA. The average monthly benefit for a disabled worker, spouse and one or more children will increase to $2,383 from $2,250, which is $133 per month or $1,596 annually.
“As our economy continues to recover from the devastating impact of the pandemic, people with disabilities who are receiving SSDI benefits will see some financial relief in their monthly income next year. SSDI benefits also provide a path for individuals to return to work if they are medically able to do so,” Perrigo said.
The annual COLA is based on increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers, (CPI-W) as reported by the U.S. Bureau of Labor Statistics.
Help from Allsup
For more information about applying for SSDI benefits, or to see if you are eligible, visit FileSSDI.Allsup.com or call 1-800-678-3276.
ABOUT ALLSUP
Allsup and its subsidiaries provide nationwide Social Security disability, veterans disability appeal, return to work, and healthcare benefits services for individuals, their employers and insurance carriers. Allsup professionals deliver specialized services supporting people with disabilities and seniors so they may lead lives that are as financially secure and as healthy as possible. Founded in 1984, the company is based in Belleville, Illinois, near St. Louis. Learn more at Allsup.com and @Allsup or download a free PDF of Applying for Social Security Disability Insurance: Getting It Right The First Time.
