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.
Did you find this Information helpful?
Tags: Cost of living adjustment, Medicare, SSI
See CommentsAbout the Author
Doug Walker, Deputy Commissioner, Communications
Deputy Commissioner, Office of Communications
Comments
Comments are closed.
Raheem H.
DD214 increased benefits for veterans, how can I apply?
R.F.
Hi Raheem. Under certain circumstances, special extra earnings for periods of active duty from 1957 through 2001 can also be credited to your Social Security earnings record. See our Retirement Planner: Special Extra Earnings For Military Service web page for more information. Thanks!
Raymond A.
I did not receive my SSA-4926-SM(1 2017). MY wife received hers over a week ago. Can you tell me when I would expect to receive mine please.
R.F.
Hello Raymond. If you are referring to the cost-of-living adjustment (COLA) notices for 2018, these letters are mailed during the month of December. If you are referring to the Social Security Benefit Statement Form SSA-1099, these notices are issue by January 31 of each year. For further assistance, please call our toll free number at 1-800-772-1213(TTY 1-800-325-0778). Representatives area available Monday through Friday, between 7 a.m. and 7 p.m. Thanks.
Alice W.
My husband received a statement showing his new benefit amount but I did not receive a statement. Why?
herm m.
Thanks for the raise, well I think I will be getting about $3.00 increase a month, however my wife will apparently lose some…Kind of confusing
Steve a.
Why is my ssa so low? I should be getting a lot more than, 1,098.000 on ssa!!!!!
B B.
Social Security was NOT intended to be your total retirement; it was to SUPPLEMENT to WHAT YOU SHOULD HAVE SAVED ALL OF YOUR WORKING YEARS either by defined benefit plans from your employer or investing a little each week/month of your income. If you’re 25 and work you’ve paid into SS and know that in 40 years you’ll be 65. Plan ahead…
J A.
Nearly half of the country is on some kind of government assistance….and they are not going to ever save for retirement…They have not been required to be responsible for most of their lives…and they are not going to start now…
B B.
We need to know what Medicare $ deduction will be BEFORE THE DEADLINE ON SIGNING UP FOR MEDICARE INSURANCE COVERAGE. You need to POST THIS BY OCT 1 IF DEADLINE TO SIGN UP FOR MEDICARE COVERAGE BY DEC 7TH
R.F.
The Medicare program, is managed by the Centers for Medicare & Medicaid Services (CMS). See Medicare 2017 & 2018 costs at a glance. Thanks!
Kris T.
The government needs to repay the money they have borrowed.
The government needs to fulfill the promises they made to my Mothers generation. My mother is 92 and still waiting.
I know I’m going to get reamed for asking these questions but I have to be accountable and so does the government
Roger B.
I’m mad … really, a measly 2% raise in our social security we need at least a 25% raise, every time we get a raise it helps the economy by that amount we barely make it today, its ridiculous… I can’t even get new clothes… my car has 207,000 plus miles on it …cost of living haha really, you have no idea what American’s go through daily to survive in this country.
Doris J.
I have very important question to ask concerning My SSDI & WP.
I recently was told by my deceased Ex-Husband’s 1st wife: Mary Alice Patterson Taylor Martin Rumburg was receiving $1,700 per month WP. I’m only receiving $716 WP & $724 SDI. How can she draw more than the 2 totals I’m receceiving, when Mary Rumburg has been married & divorced several times before she reached the age of 60-65?
She was married 2-3 other times between Mr. Martin & Mr. Rumburg, but I don’t remember their names.
Also, I have never been remarried after Danny Taylor’s & My(Doris J Taylor) Divorce in 2002.
Sincerely,
Doris J Taylor
Tuesday, 11-7-2017
2:34 pm…EST