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{163d132be0c33ef527548f598c16a5854f0363fa1b320787bb9017ebc72327da} (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.