While most employees in Los Angeles and elsewhere in California recover from their workplace injuries,…
From January 1, 2019, Americans who are already receiving Social Security Disability (SSDI) benefits or Supplemental Security Income (SSI) benefits and those who will apply for disability benefits this calendar year will enjoy a nearly 3-percent increase in benefits due to the annual cost of living adjustment.
Our social security disability lawyer Los Angeles at Koszdin, Fields, Sherry & Katz explains that in 2019, more than 67 million Americans will get a 2.8-percent boost in their SSDI benefits, SSI benefits, and Veterans Disability Compensation.
While some of you might think that the increase is insignificant and meaningless, this is actually the largest increase in the cost of living since 2012.
It would be unwise to deny or argue that the cost of living in California and all across the U.S. has soared in these past seven years.
Under federal law, federal benefits, including SSDI and SSI benefits, must keep up with the cost of living in the United States. “If the prices for goods and services go up, the government must adjust the amount of federal benefits to help Americans afford the cost of living,” explains our Los Angeles social security disability lawyer.
Many of you may recall that there was an increase in the cost of living in 2018 as well. Last year, the cost of living increase was propelled by rising gas prices caused by hurricanes Harvey and Irma. This year, Hurricane Florence is also partially responsible for 2019’s cost of living adjustments, as the damage caused by the east coast hurricane has driven gas and oil prices, too.
The 2.8-percent increase in SSDI and SSI benefits is among many changes Americans should expect this year. Adjusting the cost of living has also affected all of the following:
We agree, too many numbers, too confusing. It may be difficult to determine how the cost of living adjustments in 2019 will affect you and your family, which is why our social security disability attorney in Los Angeles offers a free consultation to evaluate your particular situation. Contact Koszdin, Fields, Sherry & Katz by calling at 818-812-5639 or 800-747-3447 today.