This Is the Maximum Social Security Disability Benefit in 2023
Social Security benefits are most commonly associated with retirees. But approximately 9 million working-age Americans receive Social Security Disability Insurance, or SSDI. In fact, the Social Security Administration estimates that a worker born in 2000 has about a 1 in 4 chance of becoming disabled before reaching their full retirement age of 67.
SSDI recipients receive the same cost-of-living adjustment, or COLA, that other beneficiaries receive. That means in 2023, anyone who receives Social Security disability benefits will see their monthly check increase by 8.7%.
Here's what the upcoming COLA means for SSDI beneficiaries.
Source Fool.com
