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Increase in Social Security Payments – First since 2009

After inflation rates are announced by the government on Wednesday, social security recipients should expect to see an increase in payments. Senior citizens will see a cost of living adjustment of 3.6% (cost of living adjustments are based upon government inflation index). However, a lot of recipients may not see a significant net increase due to the fact that there will also be increase in Medicare Part B premiums, which are reduced from most Social Security checks. Social security is a critical factor in helping many senior citizens survive financially. A cost of living adjustment has not been seen since 2009.