By: Mary Jones
The Social Security Administration announced that almost 70 million Americans will see their benefits increase by 5.9%
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.
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.
It all depends, finally, on the annual income for the entire household, whether you collect anything else in addition to your retirement, etc.
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.
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.
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.
For next year 2023 there will also be changes, so you should keep an eye out to see if you will receive anything new.
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.
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.