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No COLA for 2016

People receiving benefits from Social Security Disability (SSD), Supplemental Security Income (SSI), and Social Security retirement will not see a rise in their benefits this year. Since 1975, Cost of Living Adjustments (COLA) to SSD, SSI, veterans, and retirement benefits have been linked by law to the rate of inflation.

But this year, there will be no benefit increase, and more than 70 million people who receive one of these benefits will be affected. This will make the 3rd time in 40 years that benefits will not see an increase; all three times have come in the last five years.

How is the increase amount normally calculated? Well, it is based on a Bureau of Labor Statistics (BLS) measurement that averages how much Americans pay for things such as food, rent and electricity. The government recently reported that one of the main reasons for the lack of increase this year was inflation being brought down by low gas prices.

At Binder & Binder®, we can't change the amount the lack of COLA increase, but we can work hard to help the you obtain the full SSD or SSI benefits you need and deserve. If you have applied for benefits and have been turned down, we can help. As America's most successful Social Security Disability advocates, we know how to structure and document your case. Call us from anywhere in the United States and learn what we can do. 

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