Social Security Disability Payment Schedule
You should know what to expect if you’re looking into social security disability payments. For many, this is a main source of income to pay bills and get the things you need to survive. When you become eligible for SSDI benefits, you want to know when you will get the payments.
There is a specific schedule for social security benefits of all types. If you plan to receive social security disability benefits, understanding when your payments will arrive will help you pay your bills and work within your income better. Let’s look at some common questions about social security disability insurance to help you better understand the payment schedule.
What is Social Security Disability Insurance?
Investopedia.com defines social security disability insurance (SSDI) as “Social Security Disability Insurance (SSDI) is a federal income benefits program that provides financial assistance to Americans with disabilities.”
This type of insurance payment is handled by the Social Security Administration (SSA), and benefits are paid out to those that cannot work for a year or longer due to a disability. You must qualify for this type of income before you can receive it.
SSDI is also an earned benefit, which means you have to have paid into the program before and accumulated enough credits to qualify. Credits will depend on your work history. You will also have to meet the medical criteria of the Social Security Administration.
(Please note that SSDI benefits are not the same as SSI benefits.)
Does Social Security Disability Follow a Universal Schedule?
Yes, there is a universal schedule for receiving any social security benefits, including SSDI. Payments will arrive every month when the disability benefits are due. You will receive the benefits for the previous month, not the current month.
If you qualify for social security disability benefits in January, that payment will arrive in February. Since June 1997, social security disability benefits are paid on the second, third, and fourth Wednesday of the month, based on the beneficiary’s birthday.
The 2022 social security insurance schedule is as follows:
- If your birthday is between the first and the 10th of the month, you will receive your social security payments on the second Wednesday of the month.
- If your birthday is between the 11th and the 20th of the month, you will get your payment on the third Wednesday of the month.
- If your birthday is between the 21st and the 31st of the month, your payment will be issued on the fourth Wednesday of the month.
When the Wednesday your payment is supposed to arrive happens to be a federal legal holiday, your payment will be made on the first non-holiday day after.
It gets a little bit trickier when the benefits are going to multiple people from a single claim, such as the dependents of the insured person who is disabled. The easiest way to figure out when the benefit payment will be issued is to look at the birthday of the person whose Social Security number is associated with the benefits program.
Before the changes were made in June 1997, all payments were provided on the third of each month. However, the payment schedule now uses the birthday of the person whose Social Security number is associated with the benefits program.
Will My Social Security Disability Payments Ever Be Delayed?
Your social security disability payments can be delayed if there is a federal holiday on the Wednesday you are to be paid. When this happens, you will receive your cash benefits payment on the next non-holiday day.
What will be the Amount of My Social Security Disability Payment?
The maximum benefit for SSDI in 2022 is $3,148 per month. However, the average payment for a disabled worker is $1,358 per month. Your disability benefits will vary and will be determined by a few factors.
How to Figure Out Your Social Security Disability Insurance Benefits
You must qualify through the Social Security Administration before receiving SSDI benefits. This means you must have worked for at least five years within the past ten years and paid taxes into social security. The work qualification requires the five years to be full-time work, or you will need to have worked long enough to be equivalent to five full-time years of work.
SSDI can be complicated, but there are two main things to consider: Have you worked long enough to qualify and when will your disability insurance expire?
Typically, any disability insurance benefits you would be paying for will lapse after you stop working for five years. It’s also important to meet the rules of disability before qualifying to receive SSDI benefits.
The Social Security Administration will use a specific formula to determine your SSDI benefits each month. Your monthly payments will be determined by the lifetime earnings paid into Social Security taxes while working. The SSA will look at your average indexed monthly earnings (AIME) to start the process of calculating your benefits.
Your SSDI payment will be based on the average covered earnings taken from several years, which becomes your AIME. This will be used to calculate your primary insurance amount (PIA), which will be used to figure out your actual SSDI payments.
Your monthly payment amount is not based on how long you have been disabled or how long you have been unable to work. Instead, it’s based on the history of your wages that resulted in taxes paid into Social Security. Some deductions can happen from your SSDI amount. Your benefits may be reduced based on the following:
- Employment Income
- Worker’s Compensation offsets
- Social Security Benefits for Retirement
- Other Insurance Benefits
- Outstanding Government Debt
How can Trajector Help with Social Security Disability Benefits?
Navigating the qualifying process for social security disability benefits can be rather complicated. Without the right help, figuring out what you qualify for can be difficult. Trajector offers various services to help you get the benefits you deserve. We understand the Social Security Act and how to navigate the system to ensure you get all the benefits you are entitled to.
Whether you’re trying to figure out if you qualify for SSDI payments or you’re trying to gain health insurance benefits, we can help. Our team will offer the essential solutions you need to ensure you can get the help you deserve.
When you’re trying to navigate the system to receive SSDI, supplemental security income, Medicare insurance, or even VA disability, we can help you.