SSD Cost of Living Adjustments (COLA)
Counsel from Our Experienced Reno Social Security Disability advocates
In January of every year, the benefits paid out to individuals for social security disability or supplemental security income are adjusted to stay in pace with inflation. If the social security payments that are made out to millions are not adjusted, the effects could be devastating for families and individuals alike who no longer have the financial support necessary to pay their bills or provide for food, clothing and appropriate shelter. Since these costs of living adjustments have been put into effect, these individuals have the peace-of-mind knowing that their benefits will not be outrun by inflation and they will continue to be able to provide for themselves and their loved ones.
Cost of living adjustments are generally modest, although jumps in inflation have been known to substantially increase overall benefits. The most recent cost of living adjustment applied to social security recipients was 0.3 percent in December 2016, which means that a 0.3 percent increase will be paid on benefits starting in January 2017. This adjustment first took effect in 1975 and has provided an excellent means of keeping social security disability recipients in pace with the steadily rising costs brought about by inflation.
Need help assessing your SSD claim options? Our experienced Reno Social Security Disability attorney is ready to assist you with a case evaluation. Call us today.
Resolving Cost of Living Adjustment Errors
Due to the millions of recipients that receive social security disability and SSI benefits from the federal government, it is inevitable that mistakes will happen. If the annual cost of living adjustment was not applied to your benefits, or if an incorrect amount was applied, immediately consult with Disability Action Advocates. We have extensive knowledge in the social security disability program, and have represented thousands on a wide variety of issues regarding cost of living adjustments.
Do you believe that your claim has been affected by a COLA error? We're ready to assist you. Call us at (888) 401-3920 today.