What Changes To Expect For SSDI Benefits In 2023
Whether you are currently receiving Social Security Disability Insurance (SSDI) benefits, you are in the process of seeking SSDI benefits, or you know that you will soon be applying for SSDI benefits, it is important to know about any changes that could impact the process or your payments in 2023. There are some important changes to the individual benefit amount, dependent benefits amounts, and income limits that you should know about. Consider the following information from our national SSDI benefits attorneys.
Individual Benefit Amount Will Increase
The Social Security Administration (SSA) makes annual cost-of-living adjustments (COLA) that result in benefits administered by the SSA increasing to account for the rise in the cost of living. According to the SSA, there will be an 8.7 percent COLA for 2023, which means that benefit amounts will increase by 8.7 percent to SSDI and other Social Security benefit recipients as of December 30, 2022. Both SSDI and Supplemental Security Income (SSI) beneficiaries will see an increase in their monthly benefits by 8.7 percent. The maximum amount a person will be able to receive is $3,627, and the average SSDI benefit amount will likely be approximately $1,483 per month with the 8.7 percent COLA (up from $1,364 in 2022).
Increase in Dependent Benefit Amounts
The COLA also affects dependent benefit amounts. Anyone who is receiving Social Security disability benefits as a spouse or a child will also see their monthly benefit increase by 8.7 percent. The average benefit amount for dependents is expected to increase from approximately $2,407 to $2,616 per month in 2023.
Income Limits for Substantial Gainful Activity Will Increase
In order to qualify for SSDI benefits or SSI benefits, you must have a disability as it is defined by the Social Security Administration. Generally speaking, a disability for SSDI or SSI purposes means that you have a medical condition that prevents you from engaging in substantial gainful activity (SGA) for at least one year, or that is expected to result in death. The amount of earnings considered to be substantial gainful activity increases each year. In 2022, the amount was $1,350 per month. That amount will rise to $1,470. Accordingly, if you earn less than $1,470 monthly in 2023, you are likely to be able to continue receiving SSDI benefits or to be eligible for them, but you should discuss the specifics of your case with a disability benefits lawyer.
Unearned Income Limits Will Not Change for SSDI
Since SSDI benefits are not based on the applicant or recipient having limited assets, there is no eligibility limit when it comes to unearned income. In other words, you can have any amount of unearned income, and it will not affect your SSDI payments or your eligibility. This will not change in 2023.
Contact a National SSDI Benefits Attorney Today
If you have any questions about SSDI eligibility, or if you need assistance seeking SSDI benefits, you should seek help from a lawyer as soon as possible. One of the experienced national SSDI attorneys at the Law Offices of Stephen Barszcz can begin working with you today.