SSA has recently published the new limit for Substantial Gainful Activity (“SGA”) in 2024, and it is the biggest percentage increase in history.
In 2022, the SGA limit was $1350/mo. In 2023, it was $1470/mo. And in 2024, the SGA is now $1,550/mo!
Knowing the SGA limit is very important for individuals that wish to collect Social Security Disability Insurance (“SSDI”) benefits. The annual SGA limit is the amount of money that an individual can earn each month through work activity before taxes (not take home).The limit increases each year due to cost of living.
This means that a person can earn up to $1,550/month (before taxes) and still be eligible to receive SSDI benefits. The increase in SGA to $1550/month sure is great news for claimants seeking or collecting disability insurance benefits as it allows them to earn more money through part-time work which is necessary to combat the rising costs of gas, groceries, and social services. However, work activity can affect your likelihood of being approved, so it’s important to consult with an attorney to know what the best decision is for you.
If you are curious about applying for Social Security Disability, we invite you to contact our law firm for a free case assessment.
