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The 8.7% increase in the Social Security COLA for 2023 is the highest since an 11.2% hike in 1981. For that you can thank soaring inflation in 2022. ... Lower Medicare Premium.
Retirees will get a rare (and much needed) treat in 2023 thanks to a combination that some experts say might never happen again: a historically high cost-of-living adjustment for Social Security...
Medicare recipients will get a financial boost in 2023 after the Centers for Medicare and Medicaid Services announced lower premiums across several plans. Social Security: Women Get $354 Per Month...
In advance of the announcement, analysts predicted that the increase would be about 2.5% for 2025, smaller than increases the previous two years. Recipients received a 3.2% increase in their benefits in 2024, after a historically large 8.7% benefit increase in 2023, brought on by record 40-year-high inflation.
Social Security recipients will soon find out what their new monthly payments will be in 2023 after the 8.7% cost-of-living adjustment (COLA) kicks in. Beginning in December, the Social Security...
With the payment increase in 2023, Forbes said 8.7% more will equate to an average added monthly benefit of $144 for individuals and $240 extra for couples filing jointly.