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Social Security Announces the Cost-of-Living Adjustment for 2022: The Biggest COLA Increase in 39 Years

by | Oct 15, 2021 | Firm News |

On October 13, 2021, the Social Security Administration announced a 5.9% benefit increase for 2022. This cost-of-living adjustment (COLA) will be the biggest COLA adjustment since the 1980s with last year’s adjustment being only 1.3%. The adjustment reflects this year’s surging inflation as a result of the COVID-19 pandemic.

Beginning in January of 2022, 64 million Social Security beneficiaries will see their increase. For SSI beneficiaries, the cost-of-living adjustment will begin on December 30, 2021. The average Social Security benefit will increase by $92. For SSI recipients, the federal maximum will increase from $794 to $841 a month for individuals and from $1,191 to $1,261 for couples. The changes to Medicare premiums have not yet been announced.

The threshold for substantial gainful activity (SGA) will also increase in 2022. In order to be eligible for disability benefits, a person must be unable to engage in substantial gainful activity. A person who is earning more than a certain monthly amount is ordinarily considered to be engaging in SGA. The threshold for SGA will increase from $1,310 a month for the non-blind and $2,190 for the blind to $1,350 for the non-blind and $2,260 for the blind.

To learn more about Social Security disability and SSI benefits, contact an experienced Social Security disability attorney at Gardberg & Kemmerly, P.C. today at 251-343-1111 for a free case evaluation. Gardberg & Kemmerly, P.C. represents Social Security disability claimants in Alabama, Mississippi, Florida, and Louisiana at all levels of the disability process from initial application to appeals to Federal Court.

 

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