Last month, the millions of people of who get Social Security Administration (SSA) benefits received their first monthly payments that included the significant Cost of Living Adjustment (COLA) increase announced last fall.
The 8.7% COLA – which represented the largest such increase in more than 40 years – means that disabled workers who receive Social Security Disability Insurance (SSDI) saw their average monthly benefits increase by $119 to $1,483.
Disabled workers and their dependents
In all, more than 8.8 million people who receive SSDI benefits saw the increase to help them better cope with rising inflation.
The more than 7.6 million disabled workers who received SSDI benefits in December saw their monthly paychecks increase thanks to the COLA. Disabled workers comprised nearly 12% of every Social Security beneficiary. (The COLA increase also boosts payments for the more than 7.5 million people who receive Supplemental Security Income (SSI) benefits.)
Other SSDI beneficiaries to gain monthly payment increases include the 91,000 spouses of disabled workers and the nearly 1.15 million children of disabled workers.
In addition, the average collective benefit for disabled workers with spouses and children climbed to $2,616 from $2,407.
February marks the second month in which the benefits increase took effect. The SSA provides its benefits payments throughout the month, starting with the third of each month and on the second, third and fourth Wednesdays of each respective month.
When the SSA announced the change in mid-October, many families who count on SSDI benefits welcomed the news. Inflation has brought concern to average American households, including those that include disabled workers and their dependents.