Tag: COLA

COLA: Increase for 2023 may be 3.9%

COLA: Increase for 2023 may be 3.9%

In 2022 the COLA increase was 5.9%, the highest in almost 40 years, but what might it be for 2023? That depends on inflation. The rate of inflation rose at a rapid rate in 2021, resulting in a higher-than-normal COLA increase. The ... MORE
Social Security: $1,657 going out TODAY, find out when you’ll see yours

Social Security: $1,657 going out TODAY, find out when you’ll see yours

Today marks the second Wednesday of the month, which is when millions of Americans will see their Social Security payments worth around $1,657. Today’s benefits are going out to those with birthdays between the 11th and 20th of any given month. Those ... MORE
COLA, News, Social Security
COLA: How big could the boost be for 2023 following inflation?

COLA: How big could the boost be for 2023 following inflation?

Inflation will likely have a big impact on next year’s COLA increase for Social Security recipients. The COLA increase was 5.9% for 2022 based on inflation in 2021. Every year the Social Security Administration looks at adjusting payments to help offset the ... MORE
COLA, News, Social Security
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Social Security: When are benefits recalculated?

Many people are wondering what their Social Security benefits will look like after they’re recalculated, but how does that work? Every year the Social Security Administration gets your income information from tax documents. That information is then used to change your benefits ... MORE
COLA, News, Social Security
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Medicare: 2022 deductible

Medicare plans have seen a price hike for the year 2022. This means your deductible will be higher. You need to meet a deductible before you’re able to really get financial help from your health insurance company. As seniors struggle to afford ... MORE
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Stimulus check: Social Security & fourth payment?

Stimulus checks have gone out to millions of Americans since the start of the pandemic, but those on Social Security are still struggling with their fixed income and inflation. Many are calling on Congress for a fourth stimulus check, but a lot ... MORE
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Social Security: Increase your monthly benefit

One of the biggest things someone looks forward to in retirement is collecting Social Security, but the amount might disappoint you. What you receive as a Social Security benefit depends on various factors, but the average check is around $1,657 each month ... MORE
COLA, News, Social Security
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Social Security: Recipients saw $1,657 checks this month thanks to COLA

January of 2022 was the first month Social Security recipients were able to see their new COLA increase of 5.9%. Now that all payment dates have passed, everyone collecting that benefit should have seen their increase for the first time. Payments are ... MORE
COLA, News, Social Security, SSI
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COLA: Social Security recipients shouldn’t expect another raise

Many seniors have been asking for another COLA raise after the massive one they saw in Oct., worth 5.9%. While that raise was large, costs have only continued to surpass that number every month. Recipients can expect around $92 more per check ... MORE
COLA, News, Social Security
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SSI: Millions eligible for $1,261 in SSI

There are millions of Americans who are disabled and qualify to collect SSI checks worth $1,261. The amount for SSI has risen thanks to the 5.9% COLA increase that went into effect for SSI recipients early, on Dec. 30, 2021. SSDI and ... MORE
COLA, News, Social Security, SSDI, SSI
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Social Security: Tips to know before you claim benefits

There are various types of Social Security that Americans might qualify for. Right now, individuals collecting Social Security are getting average payments of $1,657 with the COLA increase. Depending on which benefit you get, you may see different amounts. Social Security: Full ... MORE
COLA, News, Social Security, SSDI, SSI
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Social Security: Two potential, and helpful, financial changes

Seniors have been one of the hardest hit populations during inflation due to living on a fixed income from Social Security. Some changes coming in 2022 could prove to be helpful for seniors. Inflation only continues to soar. The average check has ... MORE
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Social Security: Increased payments sent today

Today, Jan. 19, millions of Americans will see bigger Social Security payments going into their bank accounts. The check today is for anyone collecting Social Security whose birthday lands between the 11th and 20th. The new checks are, on average, around $1,657 ... MORE
COLA, News, Social Security
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Social Security: $1,657 going out in 1 day

In just one day millions of Americans can expect a Social Security payment worth $1,657. This will be the first check with the 5.9% COLA increase in it for 2022. The increase began at the start of 2022 thanks to the COLA ... MORE
COLA, News, Social Security, SSA
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Social Security: Some see $200 boost in 2022

In 2022, some Social Security recipients will see an additional $200 following the 5.9% COLA increase. Checks started going out Jan. 12, and everyone receiving benefits have seen some sort of boost in their payments. The average increase following the COLA was ... MORE
COLA, News, Social Security, SSI
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Social Security: Millions see $1,116 annual increase

COLA is now in full effect, and millions of Americans in programs under the Social Security Administration are seeing bigger benefits. The COLA increase was 5.9% more per month and started Jan. 1, 2022. Rapidly rising inflation caused the SSA to raise ... MORE
COLA, News, Social Security, SSA
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SSDI: Disability payments worth up to $1,261

Americans with disabilities will soon see payments worth $841 for individuals and $1,261 for eligible couples collecting SSDI. This increase is happening due to the 5.9% increase in COLA. The average monthly payment will rise by around $76 for those collecting SSDI ... MORE
COLA, News, Social Security, SSA, SSDI, SSI
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Social Security: $1,657 going out in one day

In just one day, millions of Americans will get the first Social Security check with the new COLA increase of 5.9%. The people getting a check tomorrow have birthdays that land between the 1st and 10th of the month. 70 million Americans ... MORE
COLA, News, Social Security, SSA, SSDI