Recent rumors have circulated about a massive 144.2% increase in Social Security benefits, including Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI).
This article provides a comprehensive fact check on these claims, examining the actual changes in benefits and the factors influencing them.
The claim of a 144.2% increase in SSA benefits, including SSDI and SSI, is inaccurate and misleading.
The misunderstanding likely arises from the compounded growth of benefits over several years, rather than a single-year increase.
The SSA typically adjusts benefits annually based on the Cost of Living Adjustment (COLA). COLA adjustments aim to protect beneficiaries from inflation eroding their purchasing power.
SSDI:Must have work history and paid into Social Security. Must meet SSA's disability definition with a long-term impairment preventing substantial gainful activity.
SSI:This program is for low-income individuals who meet age or disability criteria and are U.S. citizens or legal residents.
Age and Disability:Applicants for both programs must meet age or disability criteria. SSDI focuses on work history and disability status, while SSI includes elderly individuals and those with disabilities.
SSI payments are typically disbursed on the 1st of each month. SSDI benefits are paid based on the beneficiary’s birthdate:
– 1st – 10th of the month: Payments are made on the second Wednesday. – 11th – 20th of the month: Payments are made on the third Wednesday. – 21st – 31st of the month: Payments are made on the fourth Wednesday.
The SSA adjusts benefits annually based on COLA, which for 2024 is projected at 3.2%. While these adjustments help beneficiaries manage inflation, they do not approach the exaggerated figures sometimes cited in rumors.
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