Social Security COLA

Beth Gallagher

Beth Gallagher

Well-known member

Social Security Announces 3.6 Percent Benefit Increase for 2027​

Baltimore, MD - The Social Security Administration (SSA) today announced a 3.6 percent benefit increase for 2027. Social Security benefits include Old-Age, Survivors, and Disability Insurance (OASDI), and Supplemental Security Income (SSI). On average, Social Security retirement benefits will increase by $75 per month.

Nearly 72 million Social Security beneficiaries will see a 3.6 percent cost-of-living adjustment (COLA) beginning in January 2027. Increased payments to about 7.3 million people receiving SSI will begin on December 31, 2026. (Note: Some people receive both Social Security benefits and SSI).
 
It is not a big deal, as usual Medicare will go up, always does, and it will be even more this year.
Plus we have to find a new RX carrier as the one we have now goes from zero monthly pay to $45 a month each person.
Then it literally costs us so much more in gas since we have to travel far to doctor, Gas trip th this week $80
But now must fill-up again because we will be traveling today,Monday Wed .. and Friday next week.
 
Yvonne Smith said:
I will get a whopping $18 increase, it looks like, since my SS is under $600 monthly now. Then, the EBT people will say that they have to decrease my EBT food allowance by that much, so the COLA never helps me at all.
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A $18 dollar increase would only reduce your EBT by $5.40. It all depends if your social security is considered an earned or unearned benefit. If all an unearned benefit, then it will reduce your EBT by 30 cents on the dollar increase. If your SS is part earned and part unearned, then your EBT reduction would depend on the unearned part. For example if $300 of the $600 was an unearned benefit, then your EBT reduction would be 30% of $9 or $2.70.
 
In my case if the COLA adjustment is too high compared to the adjustment of the QMB earnings limit, I will lose all of my free medical benefits:(

I did the math for 2027 and everything is good, but I'm squeaking by with about a $5 margin. Perhaps in 2028 the math will turn against me?
 
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