Social Security Benefits to Increase in 2018
Reading Time: 1 MinuteLast Updated: October 13, 2017
When we announce the annual cost-of-living adjustment (COLA), there’s usually an increase in the Social Security and Supplemental Security Income (SSI) benefit amount people receive each month. 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 prices increase, making your cost of living go up. This means prices for goods and services, on average, are a little more expensive. The COLA helps to offset these costs. As a result, more than 66 million Americans will see a 2.0 percent increase in their Social Security and SSI benefits in 2018.
Other changes that will happen in January 2018 are based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax will increase to $128,700. The earnings limit for workers younger than “full” retirement age will increase to $17,040 and the limit for people turning “full” retirement age in 2018 will increase to $45,360.
You can find more information about the 2018 COLA here.
Did you find this Information helpful?
Tags: Cost of living adjustment, Social Security benefits
See CommentsAbout the Author
Jim Borland, Acting Deputy Commissioner for Communications
Jim Borland, Acting Deputy Commissioner for Communications
Comments
Comments are closed.
Jolyn V.
You are sending out letters for changes in monthly medicare premiums for 2018, but I can’t find those premiums on the website. The premiums should be based on the tax return year used so we can accurately plan whether to file “married filing separate” or married filing joint”.
lenore s.
I am a resident of Nevada, not Arizona any longer. I was living there for one year and moved back to Nevada in 2015.
ANY N.
LET ME COMMUNICATE THE DAMAGES THIS RAISE WILL DO: IT IS FOR US TO HAVE MORE TO LIVE ON AS THINGS TRIPLE PLUS COST, BUT WHAT YOU HAVE REALLY DONE IS TAKE AWAY SOME BENEFITS THE GREATEST NUMBER OF SENIORS AND DISABLED PEOPLE GOT FOR ONE YEAR, AND AGAIN LIKE YOU DID ABOUT 18 YEARS AGO, YOU GAVE A SIMILAR RAISE AND ALL OF US WHO FINALLY HAD A YEAR WITH HO DEDUCTIBLE, NO COPAYS AND NO PREMIUMS AND YOU SLAMMED US IN THE FACE WITH A RAISE THAT IS GONE AND NEVER SEEN, AND WITH IT, TAKES US A FEW BUCKS OVER THE LINE TO KEEP OUR QMB! DO NOT GIVE ME A RAISE FOR GOD SAKE! YOU DO THIS TO CLEAN HOUSE OF THOSE WHO ARE DESPERATELY TRYING TO STAY IN A HOUSE AND EAT AND HAVE ELECTRIC. 1. WE LOSE $20 OFF OUR MEAGER $20 OF FOOD STAMPS 2. WE NOW HAVE TO PAY A DEDUCTIBLE WHICH HAS GONE UP ALMOST YEARLY AND GREAT AMOUNT 3. ALL COSTS ARE UP SO MUCH THAT WE ARE NOW IN THE RED ABOUT A QUARTER OF YOUR INCOME. AND TO REALLY DESTROY AND SUCCEED IN YOUR GENOCIDE AGENDA, THE EXTRA HELP IS USELESS BECAUSE EVERY YEAR ALL COSTS GO UP AND SINCE NO MORE RAISES ARE YEARLY, YOU HAVE MANY WHO WILL LOSE THEIR MOBILE HOMES, BECAUSE THAT IS ALL WE CAN AFFORD, AND WHO WILL HAVE ALMOST NO FOOD STAMPS, AND FORGET ANY ASISTANCE WITH THIS NEW GENOCIDE MISSION TO GET RID OF ELDERS AND DISABLED PEOPLE. WHAT A DISGRACE THIS COUNTRY IS! THE WORLD LOOKS ON AND IS IN DISBELIEF. IT HAS BECOME A DICTATORSHIP, INCLUDING THE LOSS OF THE FIRST AMENDMENT RIGHTS AS THE WOMAN WITH A LICENSE PLATE THAT EXPRESSES HER OPINION! AND THE LESS AND LESS WE GET YEARLY. EXAMPLE: I LIVE WITH NO FRILLS,HAVE NOT FOR YEARS NOW. NO CABLE, NO HOME PHONE, NO A/C, NO FOOD THAT CAN KEEP MY MS FROM PROGRESSING. I AM 67 AND WILL LOSE MY HOME, WHICH IS A MANUFACTURED HOME, AND AUTO DUE TO ITS 2006 AGE AND NO MONEY TO FIX IT, AND MY MEDICATION THAT I WILL NOT BE ABLE TO AFFORD DUE TO COPAYS AND DEDUCTIBLE AND PREMIUMS. THIS VERY CLEVER PLAN TO FAKE RAISE OUR SOC SEC. BECAUSE THE LAW SAYS YOU HAVE TO, BUT IS REALLY JUST A SCAM AND TRICK SINCE ONE SLINK MOVE AND 2% RAISE TAKES AWAY ANOTHER 30% OF OUR LIFE. SHAME ON THIS COUNTRY. WE ELDERS ARE THE ONLY REASON YOU EXIST. WHO DO YOU THINK BORE THOSE WHO BORE YOU? AND WE ARE BEING PUT INTO OUR DEMISES BY YOU. DO YOU FOOL YOURSELVES INTO THINKING AND BEILEVING THAT YOU ARE DOING A GREAT THING WITH A BIG RAISE? AND THEN TALKING ABOUT “CUTTING OUR SOCIAL SECURITY? ” AND THEN WE WILL DIE IN THE STREETS… WE WILL. WE ALREADY ARE ON THE BIRNK OF THAT. AND NO INCOME FROM ANYWHERE ELSE AND NO FAMILY TO HELP US. THIS IS GOOD? THIS IS A GREAT RAISE? I RATHER NOT HAVE A RAISE AND KEEP SOME ASSISTANCE TO ALLOW ME TO LIVE UNTIL MY BODY NATURALLY WANTS TO DIE.
DISPICABLE AND DEPORABLE ARE TWO GOOD WORDS FOR WHAT THIS CAUSES. THANK YOU. SO RETALIATION FOR THOSE OF US WHO ARE LOSING MORE AS OF JAN 1. 2018? PROBABLY. BUT YOU HAVE TO GET RID OF US YES?
oh yes, I STRUGGLED TO STAY HEALTHY AND EVEN WITH MS I AM. BUT YOU ARE GOING TO MAKE THIS A LANDMARK YEAR FOR THE RAISE THAT KILLED. KARMA AND GOD WILL EXPECT THEIR DUE AND JUSTICE FOR US.
Stan H.
So why didn’t you address the drastic increases in the IRMAA premiums for Medicare Part B & D, which more than offset any small increase in the SS benefit?
M S.
I have noticed that I will get an increase COLA for 2018. But I also see the medicare premium is going up. I was not notified of the premium increase, should I get a letter about this? Why?
ANY N.
GOING UP AGAIN?? WE GET $20 AND LOSE $300. SO NOW WE CAN LOSE EVEN MORE THIS YEAR. WHAT IS IT GOING UP TO? $250/??/THIS RAISE TAKES AWAY THE LITTLE HELP MANY OF US HAD FOR THIS YEAR WITH QMB, BACK TO PAYING DEDUCTIBLE. AND LIVING IN MOBILE HOMES. AND NO FRILLS, AND N O T H I N G MORE WE CAN CUT OUT OF OUR LIVES. CAREAULLY CALCULATED RAISE TO CUT THE HIGHEST NUMBER OF SOC SEC RECIPIENTS OUT OF ANOTHER HUGE CHUNK OF OUR MEAGER INCOME. AND THEREBY NOT HAVE TO GIVE US qmb, THEY DID THIS ABOUT 20 YEARS AGO SAME THING, THAT WAS THE DOWN HILL SLIDE BEGINNING. GOD WILL PAY THEM FOR WHAT THEY DO. GENOCIDE AT IT’S BEST. AND WE BROUGHT THEM TO LIFE. IMAGINE. KILL ONES THAT BORE YOU. IS HOW IT GOES. TAKE AWAY ALL HELP AND THEN TAKE AWAY MORE OF THE LITTLE BIT OF MONEY WE SURVIVE ON. SOMETHING VERY CRUEL AND SINFUL ABOUT ALL THIS. BUT AGENDA WAS SET AND CONTINUES ON.
ANY N.
MAKE A DOLLAR THEN YOU SPEND $100 MORE. ADD IT ALL UP. EACH YEAR GO IN THE RED MORE AND MORE. BUT NO MORE TO CUT, ONLY CRITICAL LIVING EXPENSES LEFT TO PAY WHICH ARE NOW UNABLE TO GET PAID. NO ELECTRIC.. CAN LIVE LIKE THAT?
Marie -.
Have received my statement ,, but have misplaced or thrown it out. It is the statement explaining the benefits for 2018. My husband has received his statement. I would like to have a duplicate for myself.
R.F.
Hi Marie. You can Create a my Social Security account to request a benefit verification letter online. Or call our toll free number at 1-800-772-1213. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m.
Just a reminder – please be cautious about posting personal information on social media channels. Thanks!
ANY N.
REALLY??? I HAVE NOT GOTTEN ANY LETTER ABOUT MY BENFITS FOR 2018. IMAGINE THAT. AS USUAL MAIL LOST OR IN SOMEONE ELSE’S HOUSE. GO FIGURE. HOW MUCH IS THE DED UP TO NOW? $500?? $1000??? may as well just not have medicare. then can go on welfare? too bad cannot have children anymore. that is the money maker in this country. then you get tons of money. after hurricane they got $1500 or $1700 imagine. that. that was jsut for more food…. who knows what more they got in cash.
Gail G.
I’ve continued working to increase benefit. Found I’ve been punished for working hard, paying taxes, etc., by having my medicare cost increased (approx. +50%) and my check decreased by $45+, 2% raise notwithstanding.
ANY N.
YOU GOT IT. READ MY POSTS. TELLS IT ALL. WE ARE THE UNWANTED BURDEN OF THE RICH. GOV SPENT OUR MONEY WE PAID IN SO NOW WE HAVE TO BE ELIMINATED IN A VERY CLEAR GENOCIDE AGENDA. THAT IS VERY CLEAR. BUT WAIT! READ THE SITE AS IT MENTIONS THAT SOC SEC WILL NOT BE CUT NOW. WHEN? IF ENOUGH DO NOT DOE IN THE STREET THEN THE CUT?? INEVITABLE? YEP I CAN CUT NO MORE FROM MY EXPENSES. OLD CAR MFG HOME WIT MORTGAGE WATER ELE INSURANCES NO FRILL TO CUT. NO HOME PHONE EVEN THAT WAS CUT LAST YEAR, PRAY FOR SLL OF US AND THOSE WHO CARRY THIS OUT ARE LOST FOREVER. NO ONE GIVES A DAMN. THIS TRICK OF A RAISE ENGINEERD SO WELL TO CUT OUT QMB THAT WAS LAST DONE ABOUT 20 YRS AGO TO GET RID OF MILLIONS OF US FROM THE ABILITY TO LIVE LIKE NORMAL HUMANS. EXCEPT OF COURSE NOT IF YOIU WERE HAVING BAVBIES EVERY 2 YEARS, AND NO HUSBAND, AND THEN YOU ARE SET.
George A.
I don’t understand why a 2% increase resulted in a reduction of $110.00 in net pay. I received a letter trying to explain but I still could not figure out the reason for the decrease.
Loretta P.
Neither I nor my husband received our usual letter explaining next year’s benefit amount for our retirement Social Security.
R.F.
Hi Loretta. If you referring to the cost-of-living adjustment (COLA) notices for 2018, these letters are mailed during the month of December. Thanks!
Donna R.
I am semi-retired but still work part-time. I retired at age 62 and my full retirement age will be 66. I will turn 64 in March. I understand I started my benefits before full retirement but it doesn’t make sense to limit my part time earnings to a mere $17,040.00 a year. If I plan to continue working for 4 more years and was able to earn more, I’d still be capped at the lower premium but generate more earnings back into the pool. Especially being in the baby boomer age bracket where so many. Limiting early retirees doesn’t make sense because in the long run the difference if I had waited is under $10K and took the higher amount. You allow a full aged retiree to earn almost 3 times that amount and they get that extra part time 45K and their highest benefit??? Some retire early because laid off at age 60 and no one wants to hire older folks- that is what happened to me. Not to mention it ends when a person dies, so no one really knows how much time they have left. What happens to a spouse who dies before retirement but paid in 30 years- who benefits from all his earnings? Certainly not his family if children are 18 or older. That money just goes to others who never worked??? I’ve worked 49 years and counting.