What You Should Know:
With the new year comes new rules and updates in Social Security Disability. When seeking Social Security Disability Insurance (“SSDI”), social security requires a minimum of 20 to 40 work credits, depending on the your age at which you became disabled. Each year a worker earns a maximum of 4 credits. In 2016, you had to pay social security taxes on at least $5040 to earn four credits.
Starting in 2017, Social Security requires that you pay social security taxes on at least $5200 to earn four credits. To make up for the increase in cost of living, Social Security has a cost of living adjustment (“COLA”) of .3% increase per month for 2017 payments. To qualify for Social Security Disability, an applicant cannot have income from employment that exceeds substantial gainful activity (“SGA”). The 2017 SGA for non-blind applicants is $1170 per month. Some applicants are eligible for Supplemental Security (“SSI”). To receive SSI, an individual cannot have more than $2000 in financial resources. If a couple is receiving SSI, their maximum combined resources cannot exceed $3000. As for the 2017 COLA increase for SSI, individuals can receive up to $735 per month and couples can receive up to $1103.