COLA

Social Security Benefits to Increase in 2018

October 13, 2017 • By

Reading Time: 1 Minute

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.

Did you find this Information helpful?

Yes
No
Thanks for your feedback!

Tags: ,

See Comments

About the Author

Jim Borland, Acting Deputy Commissioner for Communications

Jim Borland, Acting Deputy Commissioner for Communications

Related Articles

An Increase in Social Security Benefits in 2017

Social Security Benefits Increase in 2024

Celebrate Earth Day 2024 by Opting Out of Paper Notices

Social Security Benefits to Increase in 2019

Comments

  1. Cynthia C.

    I’m sorry but I don’t want this cost-of-living increase it has made me not eligible for most programs to help me with electric and they will be taking away my $31 food stamps Is there anyway you could take it back

  2. Stella S.

    My husbands SS check increased in 2018. Why did mine not increase?

    • R.F.

      Hi Stella. Unfortunately, but for security reasons, we do not have access to personal records in this blog and cannot answer your question at this time. Please 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. Thanks.

  3. George W.

    need a copy of the letter i received in December indicating what my 2018 SS monthly payment would be

  4. Susan M.

    I received 3 Forms SSA-1099 – mine, my husband’s and my mother’s. The medicare Part B premiums were different on each statement. My mother only received 3 social security checks in 1917 as she died but a deduction of 803.70, $267.90 a month, was deducted. How is the amount of the Medicare Part B premiums determined?

    • R.F.

      Hi Susan, the standard Part B premium amount is $134 (or higher depending on your income). However, some people who get Social Security benefits will pay less than this amount ($130 on average). See more at http://www.medicare.gov.
      You and your husband can call our toll free number at 1-800-772-1213 and speak to one of our agents for further assistance. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m.
      Note: The Privacy Act prohibits Federal agencies from disclosing personal information without the person’s consent, except under certain conditions.

  5. Alma E.

    I need a copy of the notice I received about SS increase for 2018. Would you be able to email me a copy of that? I would appreciate it. dam5185@att.net

    • R.F.

      Hi Alma. We do not have access to personal information, therefore, we do not do direct messaging in this venue.
      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 personal my Social Security account. Thanks!

  6. Bonnie H.

    I did not get my raise on my January payment. Please get this corrected and pay the addition on my February deposit

  7. Janis C.

    after a 2% increase in my medicare check and paying $ 20.40 cents for my part D preciption plan ,I ger 3 dollars less than last year that doesnt seem fair .How can anybody live on a thousand dollars a month anymore. please reply

  8. Alma V.

    where is it ???

  9. dependents s.

    I am asking you after the veteran and spouses both claimant both denied? what ssn and benefit for dependent survivors son? and what va benefit for survivors son
    please advice

  10. clinton h.

    I have not received “My New Benefit Amount notice for 2018. How do I access.
    Clint

Comments are closed.