Millions of citizens with a United States Disability benefit can get an extra payment of up to $195 in just a few hours. This extra payment is attached to the regular Social Security retirement check and is actually the added COLA for this year 2024. Receiving the COLA is possible for everyone, as there are no eligibility requirements to get it, but getting $195 is not for all recipients.
Having an extra payment of 195 will depend on the check we have from the Disability benefit. Each beneficiary gets an increase based on the benefit they previously had. In this sense, if our check was larger we will get a larger check and if it was not as large we will get an increase, but not as large.
And the fact is that the COLA increase goes by percentage. Therefore, getting this new check means extending the payment we already got previously. And the best part is that we don’t have to do anything at all to get it, since it is an automatic process. So if you had a maximum disability benefit check in 2023 you will get that extra $195. Otherwise, the check will be less, but it will still be an increase.
Requirements to get the next Disability payment
This new Social Security disability payment has a twist, and that is that it is the first with an increase for beneficiaries born after 1997. This means that Social Security benefit payments prior to this year have already cashed their check. But in this case we are talking about later retirees, which is also a very large group.
But that’s not all, since the post-1997 group of beneficiaries is further divided into three different groups. And it is the first of these groups that will get the retirement benefit on the coming January 10th. This group not only has to have the benefit after the previously mentioned year, but also has to have a birthday within a certain number of days.
The specific requirements for this benefit are: to have had a retirement check since after 1997 and to have a birthday between the 1st and 10th of the month. If you do not meet these requirements, you will not be able to get payment on the 10th day of January, regardless of the amount of the monthly disability check you receive.
Why an extra $195 check from Social Security?
The extra $195 check refers to the maximum amount a Disability beneficiary can get with the COLA in 2024. The maximum check in last year’s 2023 SSDI was $3,627, but in this 2024 that amount increases to $3,822 per month. Still, it is true that not all Americans can get such a high benefit.
Having a higher or lower check will depend on the benefit we usually get. So the maximum is $195, but in reality the increase is 3.2% over last year’s benefit 2023. And this increase affects not only Social Security disability payments, but any other type of retirement payment.
All Social Security retirement payments increase by that percentage in this year 2024. Thanks to the COLA we can enjoy a little extra money to deal with inflation, although for some that amount may not be enough, as every American’s personal situation is totally different.