Social Security Disability – Cost-of-Living Adjustment (COLA)
Social Security Disability and SSI recipients will see a 1.7% increase in benefits due to the cost-of-living adjustment (COLA) starting in January of 2015. Every year in October the government announces the COLA. The COLA is based on the Consumer Price Index from the third quarter of the current year. The COLA affects many important aspects of the Social Security Disability and SSI program besides the actual amount of benefits paid to claimants. In 2014, the COLA was 1.5%. Although the annual adjustment is provided to protect the buying power of Social Security and SSI claimants, beneficiaries might actually see a big disparity between the benefit increases they receive and the increase in costs of needed items.
If you need more information about a Social Security Disability/SSI, personal injury, EEOICPA, long or short-term disability, VA disability, Railroad Retirement Board disability, or a workers compensation matter, please contact the Law Offices of Tony Farmer and John Dreiser for a free case evaluation. We can be reached at (865) 584-1211 or (800) 806-4611 or through our website. Our office handles claims throughout East Tennessee, including Knoxville, Chattanooga, Kingsport, Bristol, Johnson City, Morristown, Maryville, Rogersville, Dandridge, Tazewell, New Tazewell, Jefferson City, Strawberry Plains, Sevierville, Gatlinburg, Loudon, Kingston, Halls, Maynardville, Crossville, Cookeville, Jamestown, Sweetwater, Lenoir City, Athens, Oak Ridge, Clinton, LaFollette, Lake City, Jacksboro, Bean Station, Cosby, Newport, White Pine, Mosheim, Wartburg, Sunbright, Pigeon Forge, Greeneville, Harriman, Dayton, Spring City, and Deer Lodge.