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Social Security Disability

Social Security Disability – A Look at Reconsideration

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Social Security Disability

IF I OWN MY OWN BUSINESS AND HAVE A DISABLING CONDITION THAT PREVENTS ME FROM TECHNICALLY "DOING WORK" WITHIN MY BUSINESS, AM I ELIGIBLE FOR RECEIVING SOCIAL SECURITY DISABILITY BENEFITS?

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Best Source of Up-to-Date news on workers' compensation and disability in New York

2009 cost of living increase for SSD recipients

Posted on Jan 23, 2009

In 2009 Social Security Disability insurance recipients will see an increase in their monthly benefits thanks to the annual cost-of-living adjustment (COLA). This is the largest COLA increase in over 25 years, and will undoubtedly be warmly welcomed by recipients during these tough economic times.

Unfortunately, while the news for this year is good, the news for 2010 is not. According to the Congressional Budget Office (CBO) it is possible that SSD recipients will not see a COLA adjustment next year if consumer prices decline this year. COLA is determined by changes in the Bureau of Labor Statistics' Consumer Price Index for Urban Wage Earners and Clerical Workers.

The 5.8% COLA increase, which took effect on the last day of 2008, will be reflected in January 2009 checks for SSD beneficiaries.

This year the estimated average benefit for all SSD recipients is $1,064, up $60 from the 2008 level of $1,004. The actual increase in benefits will vary by worker and their situation.