Many of the citizens of the United States are celebrating. The Social Security Administration has announced that about 70 million Americans will see their Social Security retirement benefit increase by 5.9%. This increase is due to inflation and not all people are eligible. But it exists, which is the first step to be able to access this increase.
During the month of April the COLA was adjusted by 5’9%. Then it is normal that the Social Security tries to counterattack in some way the situation. In order for everyone to be able to live as peacefully as possible, there needs to be an increase in these types of benefits and benefits.
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At the beginning of the year there is always an increase in the average salary. As a result of this increase, we can calculate the maximum amount subject to Social Security. In 2022, this income increases from $142,800 to $147,000. You can check directly through the Social Security online portal.
A Social Security increase that is not for everyone
This increase in Social Security benefits in 2022 is not for everyone. It all depends, finally, on the annual income for the entire household, whether you collect anything else in addition to your retirement, etc. You should know that you can consult any type of conditions through one of the organization’s local offices.
However, if you have not received a notice in the mail informing you of any benefit changes, it is best to inquire directly. During December of last year you should have received a notice from Social Security. If you haven’t you should know that you need it.
All of those changes would start next year 2023, so either way, you should wait until the Social Security Administration announces the final increases for next year and you should be on the list of those chosen for that increase.
Changes in Medicare as well
During this year 2022 Medicare had changes as well. So this part of Social Security may change a bit for you, so you should be fully aware of all the details that make up these kinds of benefits and benefits. Every year there are changes to these benefits. For next year 2023 there will also be changes, so you should keep an eye out to see if you will receive anything new.
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As we have already mentioned, if you have any doubts, you can consult the web page directly, or go to a state office to ask the Social Security without intermediaries, where you will be informed with all the security and confidence possible.
This change does not affect Medicaid as they are not the same service although many people think they are. If Medicare is available to you, you may need to check the services you have so you don’t lose them.