COLA

Social Security Benefits to Increase in 2018

October 13, 2017 • By

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Last Updated: October 13, 2017

man and woman outside smiling 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.

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About the Author

Jim Borland, Acting Deputy Commissioner for Communications

Jim Borland, Acting Deputy Commissioner for Communications

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Comments

  1. George

    No increase all taken away by Medicare huge hit. Jeez. Now what.

  2. Dorothy M.

    According to the letter I received notifying me of the amount that I will be receiving in 2018 (social security) there is no increase. I understand there is a 2% increase , but my letter indicate that my monthly amount is the same as 2017 . Why?

  3. Suzanne L.

    My Social Security benefit increased the 2%
    but my Medicare premium increased almost 24%, from $108 to $132. So I end up with no increase in the net amount I receive. Is this really correct?

    • R.F.

      Hi Suzanne, for security reasons, we do not have access to personal records in this blog. You can 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.

  4. Jerry F.

    My benefits should have went up 34.00 but my letter said 11.00 what’s going on?

    • R.F.

      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.

  5. Robin M.

    Hello, I received my letter letting me know that I will receive a 2.0% cost of living rise. But when I look at the dollar amount that I am getting in 2017 and then in 2018 they are the same amount. So where did my cost of living raise go. I have received the same amount for 2-3 years now. Please help me understand why you say I will get an increase but never give it to me. I am barley making ends met now and with everything going up I will have to either buy medicine or have heat for the winter.

    • R.F.

      For security reasons, we do not have access to personal records in this blog. You can call our toll free number at 1-800-772-1213 and speak to one of our agents. 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.

  6. Margaret E.

    When will we receive our annual Social Security notification letter for 2018 detailing benefits??

    • R.F.

      Hi Margaret! Thanks for your question. The cost-of-living adjustment (COLA) notices for 2014 are mailed during the month of December, so please continue to look out for it in the mail. Thanks.

  7. Dan

    PATHETIC!!! Apparently the 2 % increase was mostly negated by Medicare costs. So essentially we only receive a Cost of Living increase of 0.45%. How does this amount to keeping up with inflation?

    I thought President Trump was better than this.

  8. linda h.

    We have not received our 2018 benefit information notice. Have they all been sent out? Everyone we know has already received theirs. Thank you.

    • R.F.

      Hi Linda, the cost-of-living adjustment (COLA) notices for 2018 are mailed during the month of December. If you need proof you get Social Security benefits, Supplemental Security (SSI) Income or Medicare, you can request a benefit verification letter online by using your my Social Security account. Thanks!

  9. madeline m.

    I am going to receive the 2% increase in 2018, but the medical insurance deduction is increased by 22%, which leaves me with no extra money in my pocket at all.
    Does anyone else see this in their government notification?.

    • Jim M.

      Yes and I’m pissed about it. Can’t find any explanation as to how or why that happened.

  10. Thomas R.

    Beautiful Hog Wash! Amazing how the 2 percent COLA my wife received on her Social Security turned out to the exact amount Medicare raised her premiums. This left her with the same amount she had received when no increases were made in the COLA. Please tell me just how it helps benefit us in paying our bills when you take from one government pot and put in another?
    I have not received my statement yet but will not be surprised it is not much the same. Bunch of bureaucrats!

Comments are closed.