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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Gunes c.
I still work full time and I get social security benefits at the same time ,
i got my retirement when I was 67 years old ,really want to know what months adjustment will be made to my benefits every year ?
Ann C.
Hi, Gunes. Thanks for visiting our blog. As long as you continue to work and receive benefits, we will check your record every year to see whether the additional earnings will increase your monthly benefit. If there is an increase, we will send you a letter telling you of your new benefit amount. For more details, visit our Receiving Benefits While Working web page. We hope this helps.
Annie I.
I am glad for the increase in my SS check. I am 71 and still work part time to make ends meet. Even with a bad back and shoulders. I know I could go on disability, but don’t want to do that! I’ll work as long as I’m able, thank you Jesus!!
David
I really like the new format.
Margaret C.
I Love the new Format, Its more easy to read and understand. My Medicaid is time to renew. Could you send me a Renewal Form.
Steven B.
I have tried to get a temporary password 3 times and called and waited an hour and they never sent another password? Please allow more time to enter temporary password or send first class?
Ann C.
Hi, Margaret. Thanks for visiting our blog. To get information about Medicaid, you will need to call your state medical assistance office. To get the local phone number, call the Centers for Medicare & Medicaid Services at 1-800-633-4227 (TTY, 1-877-486-2048). Thanks!
Steven J.
As a retired school teacher, I have participated in an integral and vital segment of any democracy, namely, assuring the compliance of our young through a rigorous process of socialization blended with an historical mythology. Acquiescence to the beaurocracy, or feeling overwhelmed by the process, even technologically unfit…. normal. I feel lost, helpless, hopeless.11¹
Ellen L.
This is a joke, right? Overwhelmed by the site? If you feel helpless and hopeless, perhaps a trip to a psychologist or psychiatrist might be of some help. They just wanted your opinion of the way the new site is laid out. Not hard to figure out and certainly not worth feeling hopeless. Talk about extremely egotistical, using archaic language in a public place with the working man and woman, the disabled and the retired. Proper grammar should be utilitzed by a former teacher. Why the footnote 11-1? Did you cut and paste from a someone else’s book? That’s plagerism. You’re supposed to give the author credit. Even I, a lowly commoner, understand that fact.
Ellen L.
And yes, I have a typo. I’m not saying I’m perfect. Therein lies the difference between you and me.
Tree
I’m curious if this raise will effect section 8 or low income recipients and those on food stamps.
Would this boost mean bad news for disabled couples who are living together?
David K.
For the last 3 years my estimated benefit for when I retire at 66 4 months in march 2023 has not changed, even though my old paychecks of 14,000 back in the 80’s are being replaced by paychecks in the 100,000s. Also do no see any cola updates for the last three years, that I have been checking.
Does the calculator ever recalibrate? And does it show cola changes?
Ellen L.
David, Check this out. https://www.ssa.gov/pubs/EN-05-10070.pdf
Cola increases by year: (1975-2022)
https://www.ssa.gov/oact/cola/colaseries.html
Obama didn’t give anything some years. First time in 40 years that happened. You won’t get your full paycheck upon your retirement, so don’t expect that. But you will probably get more than the average person. I know retirees living on $400 a month. You will no doubt get a lot more than that, because you worked so many years. I retired too early due to my health, so I went from disability to ss benefits. I’m finally making a kind of living wage, but with the economy in the tank, it’s not that wonderful. Good luck to you. (I do know if you work til age 70 or more, you will get more.)
james w.
can not log in to my social security account
for 2 days now is down or what have recieved any notifications telling me anything
Ann C.
Hi, James. We are sorry to hear you have had difficulty accessing your account. If you are still unable to access your account or encounter a problem with your personal my Social Security account, please call us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday from 8:00 a.m. to 7:00 p.m. At the voice prompt, say “help desk.” We hope this helps.
Karen
The government never gives you anything without finding a way to get it back, plus more cost to you…the people who earned it, deserve it and this administration doesn’t give a damn cuz they live fat and happy off of tax payers money!
This SS increase is nothing more than a bare and switch scam.
They will find a way to take your money, no matter what age you are!!
Belinda
you name suits you well, karen..
Ellen L.
But she’s absolutely correct. Try not to name call in a public forum. Especially when you are on a SS site. Don’t you know better yet?
Ellen L.
Belinda, the above comment was to you, in case you don’t realize it.
Donald F.
The sad thing is getting an 8.7% increase for me who is on SSDI will cause my SNAP food benefit to go down $146.00 per month. And my state will no longer pay for my part B of Medicare because this increase will bring me way about the income requirements to obtain Medicaid.
So now I will have to pay for part B that is $170, pay $146.00 for food and purchase another health insurance product to pick up what PART A OR B won’t cover.
It is going to cost me over $300 a month to due to getting the cola increase.
Not worth for alot of us. I would rather forfeit the 8ncrease and keep the other benefits. So sad. Don’t know 2hwt I will do.
Mattie g.
As a senior citizen I wish I could say it sounds great. But already my ring is going up a $150 so it’s not gonna help me at all it makes me wonder what else is gonna go up it’s better if I’d never got this money it’s gonna cost me more than I don’t even have But I thank you for trying to consider us but no one cares
Missy
Well for me it’s a big help. I’m overseas so I can’t get medical anyway. I’m in a country where I can pay for my own health care and medicine. Inflation still is a
problem, but I feel blessed to have what little bit I get. Thanks so much.
Jan
I never qualified for extra benefits, welcome to my world. More than 220.00 a month goes to federal income tax, no food stamps, nothing free nor have I ever qualified for any exemptions or extra help for meds or Medicare help. Just grateful that I am able to work part time to make ends meet.
C. C.
From the way I understood the situation with our Increase is they are not going to use the increase towards household income/food stamps/medicaid.
So, thar being said you should be alright and nothing will change unless of course you got other income, or resources coming in, then things would change.
Read your info on the 2023 increase and I’m sure you will come across the article I read.
Hope this helped.
Ellen L.
I only get $21 in snap now. I pay the same to Medicare Part B that everyone else does. I don’t work due to my health, but I still have my house to lose, can’t afford another car and certainly not an EV. I have an advantage plan that ripped me a new one for cancer surgery and a few days in the hospital. I had to apply for charity for the first time in my life to handle the expensive copays. I am wondering if they will, like CC says, excuse those of us who are on snap or even medicaid. I’m not on Medicaid, but someone I know is. She would be devastated.