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Social Security Changes for 2023 - Arizona Star

Of course, by now almost everyone has heard that Social Security beneficiaries will get an 8.7% bump in benefits starting in 2023. That is the topic covered by Tom Margenau in his inimitable style in this Arizona Star article. But Tom also goes on to explain some little know details about how Social Security cost of living adjustments (COLA) are determined, and then expands into how Medicare premiums will determined for 2023. Interestingly, while Social Security benefits will be going up, Medicare’s Part B premium will be going down. Finally, Tom’s article expands into how the National Wage Index affects Social Security, especially taxation of earnings for Social Security purposes. To read Tom Margenau’s article at the Arizona Star’s website, click here.

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