Social Security Benefits Increase in 2023
Reading Time: 2 MinutesLast Updated: November 2, 2023
Approximately 70 million Americans will see a 8.7% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. On average, Social Security benefits will increase by more than $140 per month starting in January.
Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W). The CPI-W rises when inflation increases, leading to a higher cost-of-living. This change means prices for goods and services, on average, are higher. The cost-of-living adjustment (COLA) helps to offset these costs.
We will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. But if you want to know your new benefit amount sooner, you can securely obtain your Social Security COLA notice online using the Message Center in your personal my Social Security account. You can access this information in early December, prior to receiving the mailed notice. Benefit amounts will not be available before December. Since you will receive the COLA notice online or in the mail, you don’t need to contact us to get your new benefit amount.
If you prefer to access your COLA notice online and not receive the mailed notice, you can log in to your personal my Social Security account to opt out by changing your Preferences in the Message Center. You can update your preferences to opt out of the mailed COLA notice, and any other notices that are available online. Did you know you can receive a text or email alert when there is a new message waiting for you? That way, you always know when we have something important for you – like your COLA notice. If you don’t have an account yet, you must create one by November 15, 2022 to receive the 2023 COLA notice online.
“Medicare premiums are going down and Social Security benefits are going up in 2023, which will give seniors more peace of mind and breathing room. This year’s substantial Social Security cost-of-living adjustment is the first time in over a decade that Medicare premiums are not rising and shows that we can provide more support to older Americans who count on the benefits they have earned,” Acting Commissioner Kilolo Kijakazi said.
January 2023 marks when other changes will happen based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax in 2023 will be higher. The retirement earnings test exempt amount will also change in 2023.
Be among the first to know! Sign up for or log in to your personal my Social Security account today. Choose email or text under “Message Center Preferences” to receive courtesy notifications.
You can find more information about the 2023 COLA here.
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Tags: COLA, my Social Security, my Social Security account
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Mari
I am 64 and plan on retiring after 65 next year… will these increases be added to my Social Security then or do you have to be receiving benefits now to get the raise? SSI Benefits Increase
Pat V.
I hope I may get a reply to ease my peace since I found out from another source about future SSA benefits welfare. Is Social Security going to cut benefits 20% in the year 2034 or 2035? Very Concerned like many other retirees.
Deidra
Hello,
I just applied for my benefits in December will I get a COLA increase and what day of the month are benefits received?
JoAnne C.
I turned 70 in Dec and I will begin receiving my own benefits (was getting spousal benefits prior) which I will start receiving with my January payment. Will my 8.7% increase be based on my own benefit amount or on my prior (spousal) benefit amount?
Terry.p
Will my income be too much to get food stamps if it is 21 0 5 monthly this year. I have an Anuity that runs out in December I also don’t have my raise for 2023.socialsecurity will be my sole income.
Ann C.
Hi, Terry. Thanks for visiting our blog. The Supplemental Nutrition Assistance Program (SNAP), formally known as food stamps, helps low-income people buy food. For questions about your eligibility for food stamps, please contact your local SNAP office. You can also call the SNAP information line tollfree at 1-800-221-5689. We hope this helps.
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Marion G.
It’s end of day December 22 and I still have not received my new Social Security benefit notice (by mail) for 2023, and related information. I do not do any of subscribe online for such personal information. How will I know when my benefit notice was or will be mailed to me.
Ka b.
I got ssi but i dont get the letter yet so do i get increased my ssi
Ann C.
Hi. Thanks for visiting our blog. For your security, we do not have access to private information in this venue. We ask that members in our Blog community work with our offices with specific questions. You can call us at 1-800-772-1213, Monday through Friday, between 8:00 a.m. and 7:00 p.m., for assistance. You can also contact your local Social Security office. We hope this helps.
Ann C.
Hi, Marion. Thank you for visiting our blog. Social Security and SSI beneficiaries are normally notified by mail starting in early December about their new benefit amount. The fastest way to find out your new benefit amount is to access your personal my Social Security account to view the Cost of Living Adjustment (COLA) notice online. You can call us at 1-800-772-1213, Monday through Friday, between 8:00 a.m. and 7:00 p.m., for assistance. You can also contact your local Social Security office. We hope this helps.
Nancey m.
My supplement insurance went up 18% my Rx insurance went up12% and Medicare premiums on 170 went down to 164. So you tell me how they claim 8.7 increase is a fair amount
Eugenia T.
We need to ask china joe how, exactly, he thinks this meager raise in ss benefits any tax paying citizen, when Medicare went up 43%, groceries went up 8.4% and gas went up by 10%! Get the lying, cheating crooked dumbocrats out now!
Mary M.
Good Lord where do you get your information from? When trump was in office the COLA’s were 0.3% in 2016 as the lowest and 2.8% being the highest under his watch in 2018. During covid the increase was only 1.3%. And Medicare? It has gone DOWN. Where do you get 43% increase? Gas where I am from is back down to $2.69/gallon—do you credit Biden for bringing it down? Please do yourself a favor and find a better source bc you are sorely being mislead. I also encourage you to check out what Senator Rick Scott and Senator Ron Johnson want to do to our Social Security and Medicare benefits. Bottomline? Get over “dumbocrats” and educate yourself with reality bc the gop is gunning dor our benefits not the Dems. (And no, I am not a democrat).
Vivian
Mary M gas may be $2.69 a gallon where you are, but in FL where I am it is near $4 and that is considered ‘down’ now, a joke as greed runs the system. Remember that SSA recipients are all over the USA and costs are not equal. Sounds to me like you are in a small town. Big cities costs of up. Carton of eggs that cost me a bit of $2 18 months ago are now ‘stuck’ at $7.75 and I put quotes on that as I see, still, each week prices continue to creep up so it is no longer possible to afford to eat in my area on ssa, but that is my only income. So I’ve racked up thousands of dollars of debt to cover that, but that can only go so far. So the good Lord wants you to know there are others having a different kind of reality than you that makes the bible passage come true in revelation where inflation shoots so high that it will be that a ‘quart of wheat will cost a whopping denarius’. The Lord cares about ALL his children so stop down playing the hardship of others as if lies.
Mary M.
Sounds like you didn’t choose very good insurance. My insurance is $8/month including prescription coverage. My meds are all zero copay for a 90 supply bc I agreed to use their mail-order pharmacy. You may consider during the next open enrollment seeking help in making better choices for yourself bc there are good plans available if you take the time to be proactive for your own healthcare. Good luck.
Sandra F.
.what the name of the insurance could you send it to me
Vivian
Don’t know if you will get a straight answer from Mary, but I want to buffer your expectations that the insurance she can get that gives her such positives can be regional to her area and not in yours. I see that Mary likes to talk as if her neck of the woods is the ultimate reality and those who don’t have what she has are plain dumb.
Roy
I still have not received my message regarding my 2023 COLA (December 22).
Are they still coming??
Ann C.
Hi, Roy. Thank you for visiting our blog. Social Security and SSI beneficiaries are normally notified by mail starting in early December about their new benefit amount. The fastest way to find out your new benefit amount is to access your personal my Social Security account to view the Cost of Living Adjustment (COLA) notice online. We hope this helps.
Terell
You there
Ann C.
Hi, Terrell. Thanks for visiitng our blog. We respond to questions and provide general information on our Retirement, Survivors, Disability, Medicare and SSI programs. If you have a general question, we encourage you to ask here. But remember, never post personal information on social media. Thanks, again.
Pamela
Thank you for the information in this article. It’s very important and timely.
I received notification of my social security increase for 2023. It’s $72.00 per month.
I’m also receiving CalFresh or food stamps due to a very limited income. I received a letter from CalFresh stating that my monthly allotment of food stamps would now be reduced by $32 per month due to my increased income.
One hand gives and the other taketh away. During this inflationary period, how will I feed myself on $128 per month? I’m already rationing everything and going without.
This is an absurd situation.
Lois c.
Try the food stamps amount being $23.
Vivian
Tell me about it, I get the $23 too, and we are supposed to be cartwheeling happy about that. That is like throwing leftovers to dogs in the street to live off of. If they are going to give aid, it should be a minimum capped at dignity level that gives some real boost and not a mean slap in the face every month. Minimum should be no less than $80, but of course $80 does not help with today’s high prices. The people who qualify for the foodstamps generally make too little money to afford groceries in general, so to throw at them $23 is simply evil politics.
Pat V.
The SNAP system does not want to pay, and they ask for extensive paper documents just to recertify about every 6 months. The should have not cut your benefits like they did.
Rich
My PC is not secure enough to post personal finance info. It is December 26 and I still have not received my SSpayment amount for 2023. Are they still mailing out notices?
Ann C.
Hi, Rich. Thank you for visiting our blog. Social Security and SSI beneficiaries are normally notified by mail starting in early December about their new benefit amount. The fastest way to find out your new benefit amount is to access your personal my Social Security account to view the Cost of Living Adjustment (COLA) notice online. You can call us at 1-800-772-1213, Monday through Friday, between 8:00 a.m. and 7:00 p.m., for assistance. You can also contact your local Social Security office. We hope this helps.