Millions of United States citizens on disability benefits will not get a new $3,627 check this week. This is not bad news, although it may sound that way. In fact, it is just the opposite. The last payment of this maximum amount was in 2023. Since beginning in January of this year 2024, retirees with an SSDI payment can receive a larger payment.
Therefore, every American with the approved benefit can get the check with a higher amount. This results in Social Security Disability beneficiaries getting a 3.2% larger check. So the $3,627 maximum is forgotten and becomes a larger check. This is good news because it helps retirees keep up with inflation.
The purpose of this annual increase, called the Cost of Living Adjustment (COLA), is to help Americans maintain a good standard of living. Without this COLA, U.S. retirees with Social Security or other benefits could struggle financially. So, keeping in mind that there is no longer a maximum payment of $3,627 in Disability Benefit, we can look at who will receive the final payment this week with the new amount.
Eligibility Requirements for the New Social Security Disability Payment
In order to be eligible to receive this payment from the Social Security Administration, we must meet two requirements. The first of these requirements is related to the date of retirement and the other is related to the date of birth. So by checking this information we will be able to know if we will receive our payment check this week.
The two exact requirements for receiving the last of the February payments this week are:
- Retired after 1997.
- Have a birthday between the 21st and 31st of any month.
This is the only way we will be eligible for a new disability payment this week. This payment, as we have already mentioned, is the first one in February, which makes it the last one in the first month of the year. In other words, it is the first payment with the COLA increase for the last group of citizens.
Going forward, all checks you receive in 2024 will have this amount. While it’s true that we could calculate the payment by adding 3.2% to the 2023 Social Security check, it’s also good to know what the exact number is.
What is the maximum SSDI payment in 2024?
After the maximum payment of $3,627 in 2023, we are now looking at a higher amount this year in 2024. Disability beneficiaries have a maximum payment of $3,822 per month. This gives retirees in this category more buying power. However, not all retirees will receive this larger check.
We should keep in mind that this is the maximum payment. That is, if retirees have less than the maximum payment, they will receive the payment based on that original amount in 2023. Therefore, we should not panic if our benefit does not reach $3,822 in 2024.
Regardless of the check we receive, remember that activating Direct Deposit is key if you want to receive a retirement benefit on the same day the Administration sends it. Retirees who do not activate this option will still be able to receive the disability payment, but will receive it in the days after it is mailed.