Increase in SSI Benefits

Americans with disabilities who receive Social Security benefits, specifically Supplemental Security Income, will see an increase in their monthly benefits in 2013.

On Tuesday, the Social Security Administration stated that all beneficiaries will get a 1.7% increase to compensate for a higher cost-of-living. The automatic payment adjustment, also know as COLA, occurs whenever inflation rises.

This increase will go into effect on 12/31/12 for over 8 million SSI recipients.

The maximum federal benefit for an individual receiving SSI will increase from $698 per month to $710. Also, payments to couples on SSI will increase to $1066 from $1048 monthly.

Source: disabilityscoop.com