October 22nd, 2014|
Making ends meet on Social Security Disability benefits can be difficult, as the costs of goods and services often rise every year. That’s why the Social Security Administration (SSA) considers adjusting the amount of Social Security Disability and retirement benefits people receive on a yearly basis.
What Is The 2015 Social Security Disability COLA?
The SSA recently came to a consensus about how much this Cost-of-Living-Adjustment (COLA) should be for next year. According to an article from ABC News, disability recipients should expect to see a 1.7 percent increase in the amount of benefits they receive.
What Does The COLA’s Increase Mean?
While most Social Security Disability recipients welcome any increase in payments, the COLA for 2015 still isn’t much. The small percentage in increase will likely only increase monthly payments by $20, much of which will be taken by the 1.3 percent increase in benefit taxes.
How Is The Social Security Disability COLA Determined?
The COLA is determined through the use of an equation called the Consumer Price Index (CPI), which examines the fluctuation in costs of goods and services—such as food, housing, and transportation—from year to year during a three-month period. The federal government considered changing these rules to a chained CPI—or an equation that considers Americans search for cheaper options when costs rise.
COLA Eases Financial Struggles
At Ponce Law, we know the financial strains that dependence on Social Security Disability benefits can cause. That’s why our team of Nashville personal injury lawyers is hopeful next year’s COLA will help to alleviate some of the financial hurdles many disability recipients face on a daily basis.
February 21st, 2014|
February 21, 2014
The process of applying for Social Security Disability Benefits can be long and drawn out for those unable to work due to debilitating conditions. A lack of strong communication between the Social Security Administration (SSA) and the Department of Veteran Affairs (VA) can make the process especially complex for soldiers and veterans who have been seriously harmed while serving their country.
The VA will often deem a soldier or veteran disabled, but when that individual takes documentation of their disability to the SSA for benefits, the agency denies the claim.
In an effort to address this problem, the SSA is changing its policies to streamline the application process for veterans deemed disabled by the VA. The proposed changes state anyone with a VA-approved 100 percent disability will be placed on a fast-track process to receive Social Security Disability benefits when they apply.
Experts believe that as many as 360,000 veterans could be affected by the change. Read more about the proposed changes here.
The Nashville Personal Injury Lawyers with Ponce Law are aware of how complex the laws surrounding filing Social Security claims can be. That is why the firm encourages those considering applying for the benefits or who have had their claim denied in the past to discuss their case with an attorney.