Social Security Disability Insurance (SSDI) is a program of the United States federal government that provides economic benefits to people who are unable to work due to physical impediments. To qualify for SSDI benefits, applicants must meet a pack of easy-to-understand requirements.
First, you must show that you have worked in jobs covered by Social Security for at least 40 work credits. The amount of work credits you need to qualify for depends on your age when your disability began. Additional to that, the applicant must have a medical condition that strictly meets the Social Security disability definition. The Social Security definition of disability states that a person is disabled if he or she is unable to perform any substantial work activity in any field, even with reasonable accommodations.
Average and Maximum SSDI Payments
The amount of the SSDI benefit is calculated using a formula that takes into account the applicant’s average income, the age at which the disability began, and the number of work credits the applicant has.
The applicant’s average earnings are adjusted for inflation to reflect changes in wages since the year they were received. The age at which the disability began also affects the benefit amount, since people who begin their disability at a younger age usually receive higher benefits. The amount of work credits the applicant has also impacts the amount of the benefit, since applicants with more work credits usually receive higher benefits.
On average, SSDI payments in 2023 were $1,489 per month. However, the maximum benefit is $3,627 per month. Starting January 2024, the Cost of Living Adjustment (COLA) will raise the average monthly SSDI benefit amounts for disabled individuals by $48. So, if you’re an SSDI recipient, you’ll start receiving $1,537.
It is important to keep in mind that other sources of income may influence the amount of the SSDI benefit. For example, workers’ compensation, public disability benefits, and pensions not covered by Social Security can reduce the amount of the SSDI benefit.
In addition, approved SSDI applicants may be entitled to retroactive payments. The number of months of retroactive payments is determined by the date of application and the date of commencement of disability.
When Will I Get My Social Security Payment This Month?
The SSA disburses monthly benefits to recipients, and the payment schedule is determined by their respective dates of birth. For the month of January 2024, the payment distribution is as follows:
If the individual was born between January 11th and 20th, they are scheduled to receive their payment on January 17th. Those born between January 1st and 10th have already received their payment on January 3rd. Individuals born between January 21st and 31st can expect their payment on January 24th.
If you are uncertain about the exact date of your payment, you can access the SSA’s payment schedule on their official website. Alternatively, you may contact the SSA directly at 1-800-772-1213 for more information.