Most years, Social Security adjusts monthly benefits based on increases in cost of living. After 2017’s paltry .3% adjustment for cost of living, the 2018 cost-of living is 2%.
For 2018, the monthly federal Supplemental Security Income (SSI) payment standard will be $750 for an individual and $1,125 for a couple. This press release from Social Security includes details about other financial adjustments made for 2018.
It is important to note that the threshold that the government considers “substantial gainful activity” has boosted to $1180 in gross wages per month.
The resource limit for SSI benefits has not changed and continues to hold at $2000 in assets for a single person and $3000 for a married couple.
If you live in southwest Washington or Oregon and have questions about what your benefit might be if you were found disabled, please contact our office for a free case evaluation.