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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GCD
We thought we would get an increase in social security. Medicare went up 19% where social security only had a 2% increase. My husband received $8.00 and l received a .80 cent loss. Thanks a lot Congress, you screwed us again!!!!!!!!!!
Frederick T.
While waiting through your announced hour plus wait time, I am trying to get my answer through internet to no avail. My problem is your announced 2% cost of living increase your math shows the same amount that I have been receiving for some years. I receive 1037 in direct deposit. Your letter says that I shall receive 1037 in direct deposit as my increase is added, but 1037 = 1037. What gives? Sincerely, *** – ** – ***
Ray F.
We’re sorry that you had difficulty reaching someone by phone, Frederick. We may have been experiencing higher than normal call volume. Generally, when calling our toll free number at 1-800-772-1213, you will have a shorter wait time if you call later during the day or later in the week. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m.
Just a reminder – We do not have access to personal information, therefore, we do not do direct messaging in this venue. Please be cautious about posting personal information on social media and communicating personal information via email. Thanks.
Jimmie S.
I received my new benefit amount statement. It is incorrect. It shows no increase—shows the same amount that I am now receiving!!!!!
Jimmie S.
I received my new benefits anount statement. It is incorrect. it shows no increase—–shows that it will be the same as this year..
April D.
We rec’d a letter today form SS stating our Humana, Medicare prescription, that the price is going to 74.90 , we rec’d a letter from Humana on Oct 2 2017 Showing there was a error. The letter shows the amount of income. we make a lot less the $170,000. it shows we would have no increase can you help please?
Ray F.
Hi April. Unfortunately, but for security reasons, we do not have access to personal records in this blog. please call our toll free number at 1-800-772-1213 for assistance. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Generally, you will have a shorter wait time if you call later in the week. Thanks.
Carol A.
Why do I keep ending up with less money when we get a so called cola increase? Medicare gets increased so I loose?
John M.
Forms SSA – 4926 – SM 2018
Edward Z.
I.m looking for information relating to: Why is my Medicare cost increased in 2018 more than my wife’s, when it was always the as my wife’s in the past years.
thank you
Ray F.
Hello Edward. Unfortunately, and because of security reasons we do not have access to personal records in this blog and cannot answer your question at this time. One of our representatives should be able to provide you with an explanation. Please call our toll free number at 1-800-772-1213, Monday to Friday, between 7 a.m. and 7 p.m.
See Medicare 2017 & 2018 costs at a glance for information about this topic. Thanks.
Judith W.
Because the amount taken out for Medicare increased my monthly raise was $22 – hardly reflects the actual cost of living – especially food prices! It’s not enough!
Frances M.
need form for new benefit amount–for 2018 husband got his —–please respond on phone for 55 minutes