2024 Social Security Payment Hikes: What SSI and SSDI Recipients Need to Know If you get SSI or SSDI , you have some good news coming in 2024.
Thanks to the annual COLA , your monthly payments will be increasing this January. This helps keep up with inflation so millions of Americans can better afford everyday expenses.
Let’s get into what’s changing, how much more you’ll get and when you can expect those updated payments.
2024 COLA at a Glance
| Aspect | Details |
|---|---|
| COLA Increase | 3.2% for 2024 |
| SSI (Individuals) | Max monthly payment rises from $914 to $943 |
| SSI (Couples) | Max payment increases from $1,371 to $1,415 |
| SSDI (Average) | Average monthly payment increases by approximately $50, reaching $1,483 per month |
| Effective Dates | Payments start in January 2024, with SSI recipients seeing adjustments as early as December 2023 |
| Official Resource | Visit SSA’s website for more information on 2024 payment updates. |
COLA for 2024 is 3.2% , slightly higher than average. Not as big as 2022 but still helps to keep up with living expenses.
Why COLA Matters
Each year the SSA reviews inflation data to determine the increase. They use the CPI-W (Consumer Price Index for Urban Wage Earners and Clerical Workers) — basically a measure of how much prices went up for everyday items.
Without COLA, fixed income recipients would lose purchasing power to inflation. But with this adjustment, your benefits grow with the cost of living.
SSI Changes for 2024
SSI is for low-income individuals who are aged, blind or disabled. For 2024:
- Individuals will get up to $943
- Couples will get up to $1,415
That’s an increase of about $30 for individuals and $44 for couples .
State Supplements Make a Difference
Many states add extra money to federal SSI. For example:
- California adds up to $160
- New York adds between $87 and $104
Check with your state’s social services office to see if you qualify.
When Will You Get the New Amount?
SSI recipients should see the new amount in December 2023 , just in time for the new year.
SSDI Updates for 2024
For those receiving SSDI , the average monthly payment goes from $1,483 to $1,533 — an increase of $50 .
Those with a family may see larger increases:
- A disabled worker with a spouse and children could get around $2,700 , up from $2,616 .
Example: Real-Life Impact
Jane gets $1,200/month in SSDI. After COLA, her new payment is $1,238 — that’s $456 extra per year .
Other Things to Keep in Mind:
- Ticket to Work Program : If you’re thinking of going back to work, this program offers free job training and support.
- Medicare Premiums : Some SSDI recipients may see changes in Medicare costs due to COLA.
- Taxes : SSDI is usually tax-free but if your income is over $25,000/year, part of your benefit may be taxed.
When Do SSDI Payments Change?
New SSDI checks start going out in January 2024 , depending on your birthdate:
- Born 1st–10th : Paid on the 2nd Wednesday
- Born 11th–20th : Paid on the 3rd Wednesday
- Born 21st–31st : Paid on the 4th Wednesday
How to Check Your Benefits
You don’t have to apply for the COLA — it’s automatic. But here’s how to check:
- Log into your SSA account online
- Look for your December COLA notice
- Use the SSA’s COLA calculator
- Call or visit your local SSA office for help
Also, check if the increase affects other programs like Medicaid or SNAP — sometimes income limits change too.
FAQs
How is the COLA figured?
Based on the CPI-W index comparing third-quarter inflation rates from one year to the next.
Do all recipients get the same percentage increase?
Yes, everyone gets 3.2%, but the actual amount depends on your current benefit.
Can COLA ever decrease my benefits?
No — COLA only increases or stays the same.
Do I have to do anything to get the raise?
No action required — it’s automatic.