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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Lois J.
The amount I get a month is so low that the 0.30 raise will not cover the Medicare increase. Am I going to take a loss?
PATRICIA D.
Like many others. The 0.3% was an insult to anyone’s intelligence. It was NOTa COLA it was to cover an increase in Medicare. Just another same-o, barely break even year coming up for us in 2017.
My AF civ svc pension will have a zero % increase again.
At what point can I apply for EBT (food stamps). Food has accelerated more than I’ve ever seen.
When I read about how the First Family lives and the self-administered raises for their pensions, it angers me to a point not to be believed. They are taking care of #1 – #1 is certainly not the Average American.
Joan T.
As of 12/17/2016 my husband Robert J. Brantley has not
received his ” Your New Benefit Amount” letter with his 0.3% increase for 2017.
Kent
Just received my statement and for the 2nd straight year my wife and I will get about $15 a month less than we did the year before. Everything that we spend money on has gone up by much more of a percentage so we are constantly trying to find ways to get through each month without running out of money. I guess I should be happy for what we have this year because it will be more than we’ll have next year.
christine
I just received my statement too and with the 0.3% increase and the increase in Part B, I have absolutely no increase in my income! Everything else I have to pay out have increased substantially! Very upsetting how they did that to us..
Karin
Are you kidding me! I just got my read-out for our expected SS check for 2017. My husbands went down a dollar and mine stayed the same. I am so full of hate for the government. My supplemental insurance went up another $14. a month and that includes higher co-pays! I could go on and on. Groceries, car insurance, school taxes! What a farce our government is.
NDROCKER
The government needs to stop wasting taxpayers dollars giving food stamps, WIC, Medicaid, housing, etc to refugees/foreigners–put an end to the Refugee Resettlement Program–making these refugees better off than Seniors and average Americans! I am sick and tired of this waste when Seniors and Veterans get short-changed.
TIMOTHY J.
I found it interesting that for 2017, the monthly amount deducted for medicare was exact amount that will keep my monthly SS check exactly the same as that of 2016 even with the .3% increase. What a coincidence, I thought.
Then, several days later my wife received her notice of .3% increase and her medicare deduction was also calculated such that her 2017 SS checks would be exactly same as 2016.
It’s like they juggle everyone’s Medicare deduction to keep bottom line where they want it.
Richard
What raise? I receive exactly $5.00 more… but wait, I don’t even receive that because Medicare when up exactly $5.00 more per month…. Our Government should be ashamed. As to all Government workers and Social Security, the law changed in 1986 all government workers employed since 1986 are paying into social security ..congress has been paying into social security since 1983….
Jimmie R.
well i got letter for benefits a few days ago, i get less than a thousand dollars a month and im 74yrs old, i did not get an increase, the letter states that, and my check will remain the same. so who is getting the raise
MrBubble
Medicare is the only one that got a COLA raise. Your COLA went to Medicare.. Our government calls that a raise.