An Increase in Social Security Benefits in 2017
Reading Time: 1 MinuteLast Updated: March 17, 2021
The annual cost-of-living adjustment (COLA) usually means an increase in the benefit amount people receive each month. By law, the monthly Social Security and Supplemental Security Income (SSI) federal benefit rate increases when there is a rise in the cost of living. The government measures changes in the cost of living through the Department of Labor’s Consumer Price Index (CPI-W).
The CPI-W rose this year. When inflation increases, your cost of living also goes up. Prices for goods and services, on average, are a little more expensive. Since the CPI-W did rise, the law increases benefits to help offset inflation. As a result, monthly Social Security and SSI benefits for over 65 million Americans will increase 0.3 percent in 2017.
Other changes that would normally take effect based on changes in the national average wage index will begin in January 2017. For example, the maximum amount of earnings subject to the Social Security payroll tax will increase to $127,200.
Information about Medicare changes for 2017, when announced, will be available at www.Medicare.gov. For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums.
You can find more information about the 2017 COLA at www.socialsecurity.gov/cola. For changes in the national average wage index, go to www.socialsecurity.gov/OACT/COLA/AWI.html.
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Tags: Cost of living adjustment, Medicare, SSI
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Doug Walker, Deputy Commissioner, Communications
Deputy Commissioner, Office of Communications
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Katherine
My “raise” minus medicare fee will garner me less than last year.
Maybe we should all write to Mr. T about this outrage. He claims he is going to fix everything!
Nina A.
I have not yet received my “Your New Benefits Amount” for 2017, but my husband has over, a week ago. How can I obtain my New Benefit Amount statement?
Thank you in advance.
Mrs .N.A. Roach
R.F.
Thanks for your question Mrs. Roach. The cost-of-living adjustment (COLA) notices are mailed during the month of December. However, you can request a benefit verification letter online by using your personal my Social Security account. We hope this helps.
Annamarie G.
I cannot believe you greedy fucking politicians whine and vote your own raises by 20k plus a year, but have the audacity to be proud of the $4 fucking dollar a month increase you begrudgingly give to social security recipients.
Keep the $48 a year you sorry mother fuckers.
Bob
0.3 % is an insult to anyone. I don’t know what kind of formula the government uses to figure the cost of living but I notice the cost of living going up all around me constantly.
Catherine M.
I was Notified of my 3.00 a month increase today. Three months ago my check was garnished by approximately 153.00 a month for a student loan I had over 20 years ago. The loan amount was originally 1400.00 now it’s up to 7000.00. I thought my loan was paid in full. I am 69 years old and was judged, by the US government, completely disabled in 2007. My original SS check amount is 1,015.00 a month. After they took the 153.00 I am left with a little over 800.00 a month to live on. SS allowed the student loan folks to garnish my check and I received no notice as to why my SS check was reduced. I called SS to find out what was going on and they told me the above. I used to have money to get someone to help me with a few things around my home. Now I have no money to do much of anything. Illegals that are Muslim get 1700.00 a month to get set up in this country, but those of us who were born here and paid into social security get the shaft. Our own government treats its citizens horribly. They grow rich off the backs of the old and disabled. May God have mercy on their souls!
robert c.
my rent goes up 75 dollars and i get a measly 2 dollar increase i mean what the f*ck my father and mother didnt even get one so now thanks to the US government we can’t afford to live here and are going to struggle guess no birthdays my niece and nephew.
SallyV
This is a joke, right? With all my other medical expenses going up, I will be more in the hole than ever! What are you going to do for the Seniors when we’re out on the street?
My “new” payment is exactly the same as it’s been for three years now! When do we Seniors get to see some kind of realistic increase?
Richard m.
I have been retired going on 7 years and of those 7 years I have not gotten a raise 5 of the 7 years.The 2 years we got a raise amounted to maybe 3%. This time I got no raise because the bastards raised my Medicare . I do not even use Medicare I go to the V.A.I give these a-holes over $1,200 a year for nothing.And still can!t get a damn raise.
Terry K.
All of the money this country sends to the flag burning American hating countries that will never return it anyway . Its about time for our government start taking care of the people that have worked all their lives and paid into the system. In stead of worrying about these countries that hate us.
Gene J.
I just received my New Benefit the other day and here is what I get. $00.00. That is with a 0.3% increase in 2017. Here is the outcome last year (2016) I had $104.90 deducted for medicare insurance. For 2017 my SS will increase by 0.3% Right?? Now they are going to deduct $111.00 for Medicare insurance which is an increase of $6.10. My 0.3% increase amounted to $6.28 so where did the 18 cents go that I should have gotten because my take home benefit stayed the same as it did for 2016 and 2015. I have not had an increase in spendable dollars since 2014 so I guess the government needed the 18 cents to pay for Obama to spend over $85 MILLION dollars of our taxpayer money on himself and his family for their vacations. And to top it off he wants the taxpayers to pay him $1 billion to fuel his post-presidential legacy, which will include his presidential library and a series of political causes that he believes in. BOHICA