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SSI recipients to see a rise in benefits in 2018

SSI recipients to see a rise in benefits in 2018

| Oct 20, 2017 | Supplemental Security Income (SSI) |

Disabled individuals in Newark and nationwide often rely on Supplemental Security Income (SSI) to make ends meet financially, especially if they cannot work. Of course, with time comes the ever-rising costs of food, clothing, shelter and all of life’s basic necessities. It is important that those receiving SSI are able to keep up with the cost of living.

Therefore, SSI recipients may be pleased to hear that the amount of benefits they receive is about to go up. The Social Security Administration reports that in 2018, recipients will see a 2 percent uptick in the amount of benefits they receive. This is the greatest yearly increase since 2012, when recipients received a 3.6 percent increase in benefits.

The reason for the increase in benefits is that a cost of living adjustment is automatically generated to account for inflation. This most recent increase will affect more than 8 million individuals receiving SSI benefits. Once the increase takes effect, the highest amount an individual can receive in SSI benefits will be $750 monthly. For couples, this amount will grow to $1,125 monthly. This is up from $735 monthly for individuals and $1,103 for couples in 2017.

This comes as good news to recipients of SSI who rely on these benefits to afford their daily living expenses. It is important that those with disabilities receive the benefits they need if their disability prevents them from working. By keeping the cost of living and current rates of inflation in mind, the SSA can help ensure that the SSI program meets the needs of its recipients.

Source: disabilityscoop, “SSI Payments To Increase In 2018,” Michelle Diament, Oct. 13, 2017