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Social Security Announces Cost Of Living Increase Of 1.3 Percent

Almost 70 million Americans will see a 1.3% increase in Social Security and SSI Payments, according to Social Security Administration Public Affairs Specialist Jack Myers. 

 

 

Over the past 45 years the Social Security Cost of Living Adjustment has been automatically tied to inflation, according to Myers. 

 

 

People link Social Security and Medicare Part B since the Medicare Part B premium is deducted from Social Security, but according to Myers they are run separately.

 

 

The COLA adjustment is automatic, according to Myers, and you do not have to call Social Security to get the increase. 

 

 

Jack Myers was a guest on the NEWSTALK WTIM Morning Show. 

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