Social Security Disability Benefits Pay Chart For 2024

If you receive Social Security disability benefits through the Supplemental Security Income or Social Security Disability Insurance programs, your monthly payment will increase in 2024. The reason is a 3.2% cost-of-living adjustment that went into effect with the January benefit payment.

It can be challenging to keep track of monthly disability benefits. The disability advocates at Disability Experts of Florida put together a disability benefits pay chart for 2024 to make things easier for you. Also included is an explanation of SSI and SSDI benefits and how your monthly payment is calculated under each program.

How To Determine Your Monthly SSI Benefit

To qualify for SSI benefits, you must have either no income or low income, and the total value of resources available cannot exceed $2,000. The resource total for married couples is $3,000. You must also be disabled, blind, or age 65 or older.

The maximum SSI federal monthly benefit for individuals is $943 in 2024. It’s $1,415 for individuals with a spouse who is also eligible for SSI. Many states supplement the federal benefits, so the amount that you receive each month may be more depending on the policies of the state where you live.

The following is an SSD benefits pay chart for 2024 for SSI beneficiaries created by the Social Security Administration comparing 2023 and 2024 federal benefits:

You could receive less than the monthly federal benefit of $943 if you have income from a job or other source of income. An important thing to remember about SSI benefits is that not all income counts toward reducing your monthly disability benefits. The following are examples of income that does not count:

• The first $20 a month of unearned income or earned income if you do not apply it to unearned income.
• The first $65 of earned income each month.
• One-half of the balance of earned income after deducting the $65 and $20 monthly exclusions.

For example, if you have earnings of $975 a month from a job, the first $65 would be deducted, leaving a balance of $910. However, you may deduct an additional $20 if you did not apply the exclusion for the month to sources of unearned income. That leaves a balance of $890 of earned income, but only one-half of it, or $445, counts against your monthly SSI benefits. The result is a countable monthly earned income of $445 deducted from the federal monthly benefit of $943, so your benefit payment would be $498 for the month.

SSDI Benefits Pay Chart For 2024

Eligibility for SSDI benefits depends upon your work record at jobs or self-employment where Social Security taxes were paid on the income. You are “insured” and eligible for SSDI benefits when you worked at least five years within the past 10 years and have a qualifying disability.

A qualifying disability means a medically determinable physical or mental impairment that prevents you from engaging in substantial gainful activity. The impairments must be expected to last for at least 12 months or result in death.

SSDI benefits for eligible individuals are determined through a rather complex formula that includes using your average lifetime earnings record, so SSDI monthly benefits differ from person to person. However, there is a maximum monthly benefit of $3,822. The Social Security Administration reports $1,537 as the average monthly SSDI benefits payment in 2024, but what you receive could be less or more depending on your earnings record.

SSD Benefits Pay Chart For 2024

Once approved for SSD benefits, it’s essential to know when to expect your monthly benefit payment to be processed by the Social Security Administration and deposited to your bank account or Direct Express debit card. The SSA has a payments chart showing the dates to expect payments throughout 2024.

The chart shows the day of the month payments are processed for SSI and SSDI. As a general rule, SSI payments are processed on the first day of every month, and SSDI benefits are processed on the second, third, and fourth Wednesday of a month based on the day you were born.

If you receive benefits through SSI and SSDI, your SSI payment is processed on the first day of the month, and the SSDI benefits on the third day of the month. You will see on the chart that benefits payable on a weekend are processed the Friday before, and payments due on a federal holiday are processed the weekday immediately before it.

Get Help From A Disability Expert

Learn more about the disability benefits you are entitled to receive during a free consultation with an experienced disability advocate. Contact the Disability Experts of Florida today.