United States Disability Beneficiaries: April’s $160 Bonus Won’t Reach – Here’s Why?

Disability-Benefits-have-an-increase-in-this-year-2024-thanks-to-the-COLA

Disability Benefits Experience Increase in 2024 Due to COLA

Some United States Disability beneficiaries may receive a bonus with their retirement check in April, but not all will receive the same amount.

Disability Benefits have an increase in this year 2024 thanks to the COLA | Image Credits : tododisca

Disability benefits have seen an increase in 2024, thanks to the Cost of Living Adjustment (COLA). However, the monthly payments sent by the Social Security Administration to Disability beneficiaries vary in amount. Each beneficiary receives a different check based on their individual circumstances, with the COLA affecting each American differently.

The bonus amount disbursed annually by the Administration to Social Security Disability beneficiaries is directly linked to the amount they previously received. As the benefit payment increases annually by a certain percentage, the bonus amount varies for each individual.

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What is the Disability Check Bonus in April?

It’s essential to understand that the bonus received in April is the same bonus as in previous months. Starting in January 2024, Disability checks saw an increase in their monthly payments.

This increase, amounting to 3.2%, was due to the COLA adjustment. However, it’s crucial to note that not all Americans received the same $160 payment increase.

Your Disability benefit payment increased by 3.2% compared to the prior year’s payments. For every $1,000 of retirement payment, you received $32 more. If you received a payment of $1,000 per month in April 2023, you should now receive a benefit of $1,032 this year.

When is the Next Social Security Disability Payment?

The first round of Social Security Disability payments was made on April 3rd, specifically for retirees with a pre-1997 benefit. However, this is not the final payment of the month.

The next payment is scheduled for April 10th but is not applicable to all Social Security beneficiaries. To be eligible for this payment, two requirements must be met: having the benefit as of May 1997 and having a birthday between the 1st and 10th of the month.

It’s worth noting that Social Security payments, including those for Disability, are immediately available with Direct Deposit. Without this method, payments may arrive a few days later.

Data Source: tododisca

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