What Is the Most You Could Make in 2023 SSDI Benefits?
If you receive SSDI, you can expect a rate increase for your benefits this year. As a Memphis disability lawyer, I wanted to give some background into why and how this increase occurs.
The Maximum SSDI Benefit for 2023
In 2023, SSDI recipients will receive an 8.7% increase to their monthly benefits as a cost-of-living adjustment (COLA).
Maximum SSDI benefits for the year will reach $3,627 per month, or $282 more than the maximum benefit in 2022.
However, remember most recipients don’t receive the maximum. To figure out how much your benefits will change, you can add 8.7% to whatever you received in 2022.
What Is COLA?
A cost-of-living adjustment (COLA) is an annual increase to Social Security benefits. It’s designed to help you keep pace with inflation.
The COLA is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Basically, they look at inflation over the last year and make changes based on the data.
For example, if the CPI-W increases by 2% from one year to the next, SSDI benefits will usually increase by 2% as well.
That said, the SSA doesn’t make guarantees. You can’t depend on an increase until the government officially announces it. They typically make the announcement in the fall each year, to take effect starting January in the following year.
How the SSA Determines Your Maximum Disability Benefits
The maximum SSDI benefit amount differs for each person. The SSA determines yours from the average of your lifetime earnings.
To set your benefit amount, the SSA:
- considers all of your income over the years you paid SSDI taxes
- adjusts for inflation, and then
- averages the total over a certain amount of years, depending on your age.
Often, you may find the amount isn’t enough to cover your expenses. If you need to supplement your income, see our post on part-time work and SSDI benefits.
Who Receives the Maximum SSDI Benefits?
The maximum SSDI benefit means the absolute most anyone can make from Social Security Disability. As a Memphis disability lawyer, I can tell you that number isn’t usually what anyone makes.
To make the maximum, a person would have to pay SSDI taxes all the way from early adulthood to just before retirement age. Most people don’t pay all those taxes for every single year of their adult life. What’s more, most people with disabilities experience their health problems earlier than the latest possible date.
So for example, if you’ve worked on and off for ten years and become disabled in your 30s, you will receive less than the maximum.
The average SSDI benefit amount in 2022 is $1,277 per month. Your total amount may look very different, depending on your unique situation.
How a Memphis Disability Lawyer Can Help
If you apply for SSDI and get denied, you need an attorney to help you a) get approved and b) get the maximum amount you’re entitled to.
As a Memphis disability lawyer, I work with clients all the time who need and deserve the SSDI they’ve already paid for in their taxes.
As their cases show, you shouldn’t give up just because the SSA denies your claim. You have 60 days to appeal, so you don’t want to wait. Give us a call and let us help.
Our attorneys gather the evidence, strengthen your application, and represent you before the hearings boards. We work hard to get you the benefits you desperately need, and we don’t win anything unless and until you do. Even then, it’s a small fraction of your past-due benefits. You keep everything moving forward.
We can help you get the most from your SSDI claim. Contact us today to get started, or fill out the form below.