Social security is always a trending topic for people and it always gets the attention and interest of the citizens. But with the current rise and increase in the cost of living by 8.7%, it is attracting more attention and interest from people. In 2022, millions of Americans and citizens have received the benefits of social security every month. Around 66 million Americans are served with social security benefits.
And it is believed that their amount and payment will increase in the year 2023. The same procedure and method go with Supplemental Security Income (SSI) recipients too.
When Americans will Receive Their Social Security Check?
It is important for everyone to know when their check will arrive every month, it doesn’t matter if you are a new social security beneficiary or an existing one. The payment date for social security money is dependent on a recipient’s birthdate and the date when you first received your benefits.
Every month this data is updated by the social security administration, so, you can find the exact date for your social security benefits and payments.
How much is the Increase in Social Security COLA?
COLA- the cost of living adjustment, in the month of October, COLA is declared for social security beneficiaries which will help in increasing their monthly benefits and payments by 8.7%. This is the highest increase ever in the last 40 years.
Social Security Medicare Benefits
For medicare benefits in social security, in the United States, medicare facilities are for people, the age of 65 or above and some people with disabilities. The program was held to take care of people and their health with prescribed drugs and medicines. This will take care of all the health and medical facilities of people.
It is better to know about it, whether you will receive these benefits now or later. The program will also provide with drugs and medicinal facilities prescribed by doctors and hospitals for the elderly.