There’s been a 1.7 percent cost-of-living adjustment (COLA) for Social Security and Supplemental Security Income benefits in 2015! The 1.7 percent cost-of-living adjustment (COLA) will begin with benefits that more than 58 million Social Security beneficiaries receive in January 2015. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2014. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.
More good news! There will be no increase in the standard Medicare Part B monthly premium for 2015!
Learn more at http://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html