Increase In Social Security Disability Benefits For 2014
Social Security Administration (SSA) has announced a cost of living adjustment of 1.5% for 2014. As a result, monthly benefits for Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) beneficiaries will rise next year.
With the increase, the maximum federal benefit for an individual receiving SSI will rise from $710 per month to $721. The benefit for a couple on SSI will grow from $1,066 per month to $1,082. Many states add to SSI benefits for their residents meaning that actual payments could exceed these caps.
Massachusetts is one of the States that adds a supplemental benefit.