Your Next Social Security Check Will Be Bigger - FOX Business
The next Social Security payment you receive should be a bit higher, because the 2022 Cost of Living Adjustment (COLA) of 5.9% will be applied to your December 2021 SS payment, which you’ll get in January. That’s obviously good news for seniors, even if that news is a bit muted by the fact that your Medicare Part B premium is also going up by $21.60 to $170.10. And what that means is that your net SS payment won’t increase by the full 5.9% COLA increase amount because your Part B premium is deducted from your Social Security payment. A good-news/bad-news situation but, in any case, most Social Security recipients will see at least a small increase in their Social Security check to help offset the disturbingly higher prices inflation has already inflicted. This FOX Business article by Breck Dumas discusses the 2022 COLA increase and more, including a payment schedule for when your next Social Security payment will be deposited in your bank account. Click here to read more.