2020 Cost of Living Adjustment Increases SSI Amount, SSI Resource Cap Unchanged For Now
Every year, SSA announces a Cost of Living Adjustment, or COLA, that affects the monthly amount SSI beneficiaries receive. For 2020, this increase is 1.6%. The SSI federal benefit amount will increase from $771 per month to $783 per month for individuals and from $1,157 per month to $1,175 per