In the coming year 2024 we will see many changes throughout the United States. These changes will also be linked to social benefits of all kinds. In order to combat inflation as effectively as possible, the United States Government is increasing most of the checks year after year.
In this way, Social Security beneficiaries may have a much larger check the following year, or not as large, but it may increase a little. Every year all benefits, Social Security or otherwise, go up a little bit to balance the scales of inflation and all price increases in general.
And in the case of next year 2024 the COLA will be responsible for all these benefits going up. This COLA causes Social Security payments to increase every year, as well as all other benefits such as SNAP Food Stamps and many others.
So we should always keep an eye on what next year’s COLA will be, as it could completely change the check we will get starting in January. Next year 2024 we will have a change not as big as 2023 but apparently enough to deal with the current inflation.
WHAT WELFARE BENEFITS WILL CHANGE IN 2024 AND HOW MUCH WILL THEY INCREASE?
Each and every Social Security benefit will have an increase starting with the first of the January 2024 checks. This first check will arrive in January, although for one benefit in particular we will have payment in this December 2024.
If you have one of these benefits you need to pay attention to this increase:
- Social Security retirement check.
- Supplemental Security Income (SSI).
- Social Security disability.
- Social Security payments other than retirement or disability.
- Railroad Retirement Board benefits.
All of these checks will be higher in the coming year 2024. Beginning in January, the payment of these benefits will increase by 3.2%. This means that out of every $1,000 we will get a payment of $1,032 in the next year. So you will be able to have a little extra money to be able to pay your bills and organize your household finances in the best possible way.
WHAT WILL THE SOCIAL SECURITY MAXIMUM BE IN 2024?
Social Security checks will go to a different maximum in January 2024. As benefits increase, beneficiaries will be able to get a bigger check each month. And in the case of Social Security worker retirement benefits, the maximum payment will be $4,700. This payment will bring benefits very close to $5,000.
Likewise, disability checks will go from a maximum of $3,627 to $3,743. This does not mean that every citizen with one of these checks will get the benefit that large, but the maximum possible we can get is that figure.
As for Supplemental Security Income (SSI) payments, the maximum check will be $943 .All benefits will have their increase and just adding 3.2% of the check we currently collect will get us the final figure.