The approximately 66 million Americans who receive Social Security benefits each month will receive an 8.7% cost-of-living adjustment by 2023. Social Security beneficiaries can look forward to an increase in their payment amounts in January, while Supplemental Security Income recipients will get their first increased check-in in December.
To help you with some of the ins and outs of Social Security — from when to sign up to when to look for your checks — CNET has created this cheat sheet that’s updated regularly so you can stay on top of the latest details.
How much is my Social Security COLA raise for 2023?
In October, a cost-of-living adjustment was announced for Social Security beneficiaries that will increase their monthly payments by 8.7% – the highest in more than 40 years. Here’s everything you need to know about how it affects you.
When will I get my Social Security check?
Whether you’re a new Social Security beneficiary or have been receiving one for decades, knowing when your check arrives each month is a must. Your payout date depends on your birthday and when you receive a benefit. Each month, these stories are updated to reflect the exact dates when the Social Security Administration will issue your payment.
How to apply for benefits
There are several types of benefits you can receive from the Social Security Administration and other federal programs. Here’s what they are and how to apply them.
I will not be collecting Social Security benefits for years. What do I need to know now?
Preparing for Social Security is important no matter how close you are to retirement. Fortunately, it’s never too late to learn how your benefits will work once you’re ready to collect them.
Additional Social Security information that is important to know
Aside from Social Security benefits, knowing important information about your Social Security number and card can help prevent future mishaps. For example, if you need a replacement Social Security card or want to know who you can share your social security number with, we can help.
How Is Medicare Related to Social Security?
Medicare insurance in the US is for people age 65 or older, or certain people with disabilities. The program is designed to help with health care and prescription drug costs. Whether you receive it now or plan to receive it in the future, it’s good to brush up on how it works.
For additional health insurance information, here’s what you need to knowand if you don’t have insurance.