Starting this year your monthly benefits will see a 3.2% increase, above the 20-year average of 2.6%.
To somewhat balance this increase, Medicare Part B premiums are increasing from $164 a month to $174 a month — modestly decreasing Social Security checks for those enrolled in Part B since the premiums are automatically deducted.
Craig Schwegman joins JET 24 Action News to help us make the most of the 2024 Social Security Cost-of-Living Adjustment (COLA) increase.
Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
For the latest news, weather, sports, and streaming video, head to WJET/WFXP/YourErie.com.