Our country’s most effective retirement program is Social Security. It was essential in rescuing about 22.5 million people from poverty in 2020, and a recent study by the national pollster Gallup found that it is essential in assisting just under 90% of retirees in sustaining their lives during their senior years.
Over 48 million retirees received benefits from Social Security in September, yet many people still have preconceptions about the program.
The Social Security program also goes through regular adjustments. Every year in the second week of October, the Social Security Administration publishes a fact sheet describing the changes that will affect the program’s beneficiaries and workers who will be contributing in the coming year.
These are the biggest changes to Social Security in 2023.
109 thoughts on “6 Social Security Changes Coming This Year”
I am grateful to receive these updates. This helps to keep me informed. The cost of living continuously goes up and the adjustments to the Social Security allotment is needed. Thanks
I appreciate the cost of living raise we’re getting. The cost of living has gone up tremendously, and the last raise was very needed and helpful!
YEP an INCREASE that won’t meet the current price hikes on everything. PLUS I’ll bet anyone in this country that MEDICARE PRICES will increase. So our SS increase will be gobbled up by the rising Medicare costs. Especially since illegal aliens are getting FREE MEDICAL.! Trying not to be political,just the facts, WATCH AND SEE!
True, but we’re all in denial!
Couldn’t agree more! The greed of government keeps on growing.
I agree with your comment…government never gives without taking something else and more. And yes, we are paying for all the free housing, clothing, medical for the millions of illegals. Homeless Americans and poverty here with so many that are birn here and worked all their lives…shows you where priorities are and not surprising as usual.
Ryan tu eres un MAGA Trump Racista, ya pronto los gringos van a ser la minoria, la puerta de la frontera esta abierta gracias a Joe BIden y ahora la tierra de los estados unidos van a ser conquistada, VIVA MEXICO.
Trump lovers are NOT racist. We are all for legal immigration.
Vivir EN MEXICO , Pedro.
Even if your end up correct; your negativity is outstanding! How would you like to be a Ukrainian? If Our county is in the shitter it’s because more than ever people like you would rather complain about everything instead of appreciating where we are lucky enough to live.
you are right
Yes, you have spotted that too. I also see where people who have never paid into SS at all are getting better checks than those who have worked for 45 years or more. The COLA doesn’t even come close to covering the price increases on all necessities. Oh and they never considered the fact retirees UNH and BLUE Cross raised their rates to, so yes, what we got, which we now have to pay taxes on was all sucked up by other increased. so it was not a wash but the increase cut into our fixed income.
I agree. We have to pay ridiculous costs to pay for ILLEGAL INVADERS free insurance. I
Ryan, you are 100% correct!!!
I got a lousy increase of $100 a month, so that’s just a measly $25 a week. I can now eat at McDonald’s once a week…whoopee shit!!!
exactly right…the COLA has already been erased…
All my COLA went toward an increased Medicare Part B premium. And because the COLA increased my gross Social Security benefits, I will owe more Federal Income tax. The COLA turns into a negative COLA for me.
retirees getting SS should no longer pay income taxes.
if you just receive SSI, you are not paying income tax. But, if you have another $30K-$50K in IRAs, Interest, and/or capital gains…. then, you pay taxes. The average retiree has these. So there AGI is $50K+. It’s just as if you were working and making $50K.
You are exactly right.
Nice for any increase, but some states tax again the SS payments. I have contacted several politicians in my state (MN), and this year some action finally looks like it will be taken. Keep after them for change.
Amen to your comment. I have been complaining to my Congresswoman and Senator for years about double taxation. Nothing done. I am tired of paying for all the perks that the illegals coming across get and those who have never paid a dime. The Star Tribune two years ago posted what the Somalians coming here to settle are getting and who is paying for that!
This particular increase to SS benefits in 2023 (8.7%) is the highest in many years. Additionally, the Part B premium to Medicare went down this year from $170.10 in 2022 to $164.90 for 2023. These changes were made to help Seniors in light of recent inflation. I approve of the job that the Government is doing to adjust these critical programs as needed to help Seniors.
Yes, yes, and Yes! Right on every point!
I have a spreadsheet system based on my contributions and the prevailing bank interest rates over time. If I had been able to do that I would be able to draw three times as much money to age 95 and have $60,000 left over. If I had put it into a managed fund I would have several times that in both parameters, draw and balance.
SSI is a typical government “Screw The Dummies” Washington, DC ripoff by our elected ruling class that thinks we are stupid and proves it over and over again!
Would like to check your math, if you live to 95 you would for sure receive MORE MONEY in your SS checks than you put into the program! Social Security is one of the best government programs ever devised for the general public of the USA! Oh BTW, SSI is NOT Social Security…I believe it is strictly for people with disabilities!!
You are one smart Person. Our federal government is a joke on how they operate day to day. Only throw tax payer dollars at issues with NO accountability. Look at all the fraud in the stem checks that went out. I did not need or want their check but got one anyway. They let one county of county employees in Texas opt out of SS back in the 1980s years ago and those people are soooo better off than SS. They were in a private investment account.
Actually Adrian, social security is not meant for each person to get the max amount they could have accrued if they invested it themselves. It is a shared benefit system so that folks who become disabled, have a parent die, or earn very little often receive a benefit greater than their contribution. It is sort of like public education. We did not send our children to public school, but still paid taxes that contributed to public education for other children. And I am not complaining about that, because I think it is a benefit to our country that free education be offered to all children. Likewise, I think it is a benefit to our country that we do not have disabled people or orphans begging on the street. Wishing you and others who feel cheated in life a wonderful 2023.
Start collecting at age 62 if you are in good health so if you collect SS for 10-15+ years you will collect more than what you paid into the system. IF you wait until FRA, you may not get the full monetary benefit. Also, with the system going broke by 2034 collect as soon as possible, if possible.
I agree! If you are just relying on SS for income that’s your own fault for not planning and saving for retirement. We all make decisions in life, and these decisions affect where we are today. Quit blaming the government for where you are financially today!
Amen to that!!!
AGREE! We worked for it! I believe until they work enough quarters to be eligible for Ss they should not receive one cent of OUR money. They are going to break the system and then be angry because they cannot be paid more!
I have a list of the additional amount of money I am being charged each month because of increased costs. I also have a list of the additional amount of money I receive. Guess which is higher!
You would have if you actually did invest the money. When you are young, retirement is not even a thought. In my opinion only about .05% of people would invest on their own.
Yes, but the DHS has enough money to give every single one of the illegals coming across the border a brand new cell phone – pre programed! This not a political comment, just fact.
I appreciate your SSA updates.
If you believe that SS lifted anyone from Poverty you are eating the altered gummy bares. Government may tell you that you can live on SS but not above Poverty level. The health care doesn’t cover medical costs. what drives up HC costs? take a walk through any large hospital and observe the wasted spaces in the atriums. if you are able to get to the management section you would see opulent offices and dining areas. what is also maintained are private suite’s for the rich. Equipment that may be used once a year if then, that must be recalibrated monthly. staff that does “research” on what? we never see any breakthrough medical discoveries do we. yet we are charged for things like “medical supplies” or building maintenance. stuff that isn’t charged to Medicare. Yet government is quick to tell you that they got you covered when they want your vote. They scare and lie about the opponent wanting to take away SS. Just to secure your vote. The reason they won’t is because that money goes into the general fund and it has already been spent. I could go on. but you people won’t listen. do your homework. —— I, Grampa
Thank you for these handy breakdowns of notices and changes in Social Security.
You make it easy to get the facts.
after all the money they ahve taken out of our funds they need to pay it all back that’s for both parties
I am thankful and grateful for the information this organization provides.
I am hopeful that Congress will spend time to create legislation to address the funding of
Social Security so a reduction of benefits can be avoided. This is vital to American citizens.
Maybe Congress people and Senators will read this post. God Bless America, land that I love.
What dream world are you living! Congress or Senate reading about the probems of the common people, their serfs. Believe me if it is vital to American Citizens, no law will be passed. Congress and Senate just gave themselves “two pay raises” including that their food, montage/rent, clothing allowance, anything that pertains to their cost of living in Washington is paid for by the taxpayer.
These changes are not justified if Government officials are not completing assignments hands on rather than allowing official paperwork to be conducted via internet where anyone can lie and receive benefits when in reality aren’t eligible.
yes the increase is needed but already being GOBBLED up by food and living expenses even 2023 ARRIVES!
I hope we get this big boost of COLA next year as well ! Republicans say they are not going to vote for the debt ceiling unless Biden cuts Social Security.
I wonder about the Gov’t employees that do not get Social Security, will they get these benefits also?
Are Gov’t employees who are on pension and not on Social Security eligible for these benefits?
Congress and Senate are government employees, yes they will get the increases.
I paid into the SS fund for many years. My wife did the same. She retired and passed away 2 years after she retired and paid into the system for over 40 years. I got $10 a week more. What happened to the rest. We could have saved the rest evena a low intrest rate and
had a nice nestegg. She die and the Government got the rest. I love America but it always seems to screw its citizens. SS is a bank account for the politicians for many years.
Just another post about SS. I also pay income taxes on the SS I now get. Wonderful taxes on money that was already taxed over 40 years. The same for my savings account. Wonderful elected representives, they represent themselves, and perhaps all the ILLEGAL people who entered this great country of ours and use up resources that our citizens also paid SS taxes for. By the way what needs to be moderated on this post. It’s the truth nothing more??????
To avoid Social Security reductions, vote Democrat, not Republican. The Republicans are always looking for ways to eliminate or reduce SS so they can turn around and give big tax breaks to the wealthy. Brats like the Kardashians and Paris Hilton certainly do not need more money.
Yep vote Democrat so we can wind up with the likes of Joe Biden, Harris, and J.B. Pritzker again. I Mean look at J.B. he reduced taxes on everything and he’s a Democrat! He’s 💔 ng his own citizens in taxation. Yep! Vote Democrat!
Idiot response from an idiot liberal
Phil, You are a COMPLETE IDIOT! Take your head out of your butt and breathe.
Republicans would not sign the 2023 omnibus bill unless Medicare rates paid to providers
were reduced meaning those on Medicare will find it more difficult to find a doctor willing to accept Medicare- VOTE DEMOCRAT
Seeing that it’s Christmas, I will say this as nicely as I can, Philip. You couldn’t be more wrong. You have fallen victim to the “BIG LIE”. Democrats have been telling this lie for some many years, that they have come to believe it. Social Security and Medicare benefits have only grown since these programs were created, There have been several Republican administrations in power since then and not one of them has eliminated or even cut these benefits.
You don’t need to look any further back than two years to see which party has crippled our domestic oil and gas production and driven inflation up to 14% and more; opened our southern border to millions of illegal immigrants who will drain the limited resources of our social welfare programs paid for by American taxpayers; defunded our police, eliminated cash bail, reduced felonies to misdemeanors, elected prosecutors who refuse to prosecute criminals and judges who prefer “probation” over incarceration resulting in the surge in violent crime in our cities; and weaponized our federal Departments, Agencies and Bureaus to silence, intimidate and punish any political opposition. You cal call these “talking points”, but every word of it is true.
You are absolutely misinformed.You want to lose your social security then stick with your democratic way of thinking.Those blinders must really be working for ya.Look around you,the proof will smack you right in the kisser.
That is so true. It amazes me how many people I know who don’t get that. They have fallen for the big lie that is the Republican party.
It was President Biden then a Senator who voted to tax SS benefits to those that paid more SS taxes. He voted to increase taxes on SS 2 times . The original at 50% and a second time at 80% a few years later. I’m 85 been retired over 20 years and have paid taxes on 80% of my SS benefits for all those years That’s tax on money already taxed over many years I worked and the years I am retired. REMEMBER He is a Democrat. I’m an independent voter. Enough of this false garbage and gas lighting .
That’s utter nonsense!!!
I cant, in all seriousness, take your comment seriously
Will you provide data and documentation to back up your post ?
Are you kidding me??!! The republicans are the only ones who have come right out and said ssi and medicare are not to be touched
You democrats always come up with the same crap about Republicans, yet over the years that republicans where in charge I have never seen a reduction in SS benefits.
I don’t know where you got your information but Democrats cause inflation and tax increases. Maybe some “rich brats” might get at tax break but they are paying more in taxes anyway so those that pay more will always get more of a tax break. It is called fairness. Of course hardcore Democrats will never have their minds changed so instead I will point out how terrible the country has become since Mr. Biden was elected. You will counter that with some concocted accusation about Pres. Trump. I wish people would flush out all their prejudices and start off clean by looking at how things are and how they were without any political blinders. (Of course people will say that anyone can make any claim but I really was a democrat from 18 through 46 years old.) It became obvious to me that the news media was swaying the votes and that reality did not match what we were being told. As long as people believe like you, I don’t see anything getting better in the country.
%Yes, got raise of $140.69. My medicare premiums went up
$90.60. Net increase $50.06 a month. Utilities and groceries have gone up over
$200.00 a month. God takes care of birds, know he will take care of me.
Every one on SSA should receive some of these Food Stamps to help with grocery. Where would you put $2500 worth of food stamps of food in your house and the ones on just SSA have to make a choice in food are meds with the price of food going up and meds. T he system is messed up with these food stamps .
I wish the government would do half as much for us senior citizens who worked our whole lives and contributed to the “fund” (it’s OUR MONEY) as they do for the immigrants that are pouring into this country who receive medical care, education, free living, and who knows what else. I promise if those who DECIDE on our benefits had to actually LIVE on our benefits, OUR BENEFITS would be a whole lot different…. just sayin’ …….
I have been getting my SS checks on or around the 3rd of the month ! Why do I have to wait for 3 weeks now ( 3rd Wednesday) . I need that money the first part of the month and now my bills will be late .
The new COLA increase is certainly welcome but I agree it should better be based on the CPI-E to better align with the actual cost of living primarily due to inflation.
Unfortunately for those of us living in a high cost State and area like Silicon Valley the 8.7% increase is about half the cost of living increase experienced here. Still working at 73 to keep afloat but it gets worse every year. Will have to relocate to a lower cost area and State soon.
My Cost of Living Adjustment will be going toward increased cost of my Medicare. In addition, I will actually get a $60 decrease in my Social Security income each month. So much for a COLA.
So far when we gain a few dollars in one place we lose it in a since somewhere else. So really what have we gained? We can count on something going even higher now we have to wonder what that will be because the older we get the more health problems we have to combat . The higher rent is for some of us and food do we get bread or fruit. There’s nothing golden about these years .People have worked for this country are put on the back burner and the new comers are living free while we struggle daily. This country still don’t know how to treat the people that worked here not somewhere else put our money here but our returns are basically Zero.
Its not fair to the American People that have worked and paid into social security for the government to uses money to provide for the illegals that force their way into the country, to receive medical benefits and we have veterans and American that cannot get medical help
The cost of living has gone up tremendously, and the last raise was very needed and helpful!
I am 71 how will this rase 8.7% effect my 2023 taxes ?
You rescued us from poverty??? “Social security” IS poverty!!!
So wait! are you saying that since I was born on Dec 23 that my check which has been coming the second Wed of the month will now be switched to the 4th Wed!!! That means I will go 6 + weeks with out a check instead of 4+!!! I hope that new rule is not grandfathered in or in this case great-grandmothered in.
I do not know how you have been getting your money the third Wednesday, I’ve been on SS for 5 years and my money always came on the 4th Wed. (B-day 21 Dec)
Your site needs work. Plenty of info available of interest to seniors. However, was impossible to find the full actual lead article. I understand you need to appease your advertisers and make it easy to access their sites; but, why make it impossible for your readers to find what they want? Will never sign up for your service until you put your readers first.
Do not touch our social security! We rely on our money that we earned to live! This money is not yours to use. So are you saying that you don’t care that you will be destroying millions of lives? You Republicans need to be very careful. You make it easy to vote Democrat bc it’s so obvious that you are not for the people! And get rid of Santos! He makes your party look like fools
the extra money is helpful but it nocks people out of things we use to qualify for, such as help to pay electric bills. you now are over the limit you can make so you out of help getting anything. you will not qualify for other things because you make to much.
What concerns me as a retired is I am not the only one depending on Social Security in my family as I have a wife to support. This is probably true of many retirees among the 48 milion who may have more dependents.
I appreciate the latest Social Security updates that keep me informed of changes on the horizon.
Thank you for keeping me informed of Social Security benefits and changes that may occur in the horizon.
For the first time since I began receiving Social Security, my IRS reported income, was calculated into deductions from my monthly allotment. I am a widow trying to enjoy the fruits of my life long labor. I actually receive less per month now than I did last year. It appears I am being penalized for managing my finances to enjoy my retirement years. The income came from readjusting my portfolio and reinvesting. Not only did I pay substantial taxes, but now my Social Security has been garnished as well. It appears this is yet another mechanism for uncle Joe to make the middle class disappear into poverty in favor of the 1% who are above all these regulations.
By this regulation at what IRS income level would retirees forfeit their entire allotment?
Your article did not include the income penalty that is garnished beginning this year.
Please update your information and address this NEW LAW FOR SOCIAL SECURITY BENEFICIARIES.
I appreciate the raise in social security benefits. It was much needed. However all of my utilities went up, my insurances went up, food and gas went up and forget trying to afford a home repair.
So as good as it was it wasn’t enough. The price of food is ridiculous as well as the gas prices. It seems when our benefits increase it still doesn’t seem to be enough.
Social Security does me no good. They take 1/2 of my check to pay for Part A and Part B alone and so I do not have enough to live on.
It seems bitter sweet news, on one hand the increase is good news given the man made inflation, on other hand it depletes the fund drawing out more then what’s going into the fund. This will require law makers to do what regarding future changes, reduce payouts to what level? The people making the decisions get taxpayer paid pensions and healthcare, because they don’t pay into social security, so they are not impacted by their decisions.
Thank you for letting us know about the changes to Social Security, but I hate the fact that they’re saying that we would have to lose our increase if inflation decreases. They need to leave the increase alone; because we don’t know what’s going to happen in the future, and pray that the cost of living decrease or stay as is. And pray that it doesn’t get any worse.
each month my ss ceck coms in on the 3rd week of the month my bills come in on the first of the month so i stay late if you are saying they may come on the 4th week of each month need i say more.
With the trillions of dollars being thrown around and also wasted in DC full social security should be given at the age of 65 just like Medicare.
Thank you for the updates on Social Security and for the raise. It was definitely needed with everything costing so much.
Well Beverly why do you think everything cost so much! Inflation caused by the democrates spending over 6 trillion dollars in the past 2 years alone.
The cost if living raise is a joke the inflation rate over years has eaten up that amount and more.So why can’t we get more? I’ll tell you why,it’s very simple REPUBLICANS that’s why these morons want to do away with SS and put us alk on the street begging although WE are the ones who are paying them.These people should receive no paycheck at all they volunteered for this job nobody asked them to do it they campaigned for they begged for it so let them earn their own money to support their obsession. We the taxpayers should not be supporting these people that want to take our earned benefits.
For God’s sake Keith grow up and smell the roses. WHO spent 6 trillion dollars in the last two years! Who voted for the spending, voted and approved under Nancy P in the congress and signed by Joe Biden. Who started the war in the Ukraine, who kept pushing the Russians to use a nuclear weapon ( Putin has been very patient). Who is pushing for a war in China, North Korea, and Russia? Who just said they will invade Mexico and drop bombs on Tiawan? Joe Biden and the Democrates.
It seems to me that the first three all benefit the wealthy more than the poor. For example, the 8.7% COLA will add $87 for a person who did receive $1000, but $174 for a person who did receive $2000.
DUH! I guess so Linda. Work more earn more. I work my whole life very hard and get a social security check of $3,000.00. Are you saying you deserve more because you did not work as hard or were not smart enough to figure out how to go into business for yourself or get a better job. You obvious are one of the people who would vote for communism/democrates.
Hogwash. The system needs revamped just like military retirement. Those that are 25 years old can prepare for supplementing for their own retirement. Democrats need to quit spending money and focus on fixing roads and highways including railways. Hoping Republicans have the guts to finally fix the problems with social security program.
I need the yearly raise from Social Security, but it will cause eviction from my apartment. There is no housing for seniors who can’t afford high rent or extremely high rent. Hopefully, I will not reach that point after receiving the raise this year, and I do not know the outcome. Doomed could be the result!
If cities and states AND THE GOVERMENT talk about getting the homeless people off the streets than why do I hear the government talking about taking away SS Retirement leave it alone where are the seniors going to get the money to pay there 1 Rent, 2, utility’s, 3, buy their food. Seniors have put in all those years working and paying into SSA that money is there’ money leave it alone!
the feds. give us a COLA on January 1st then if your on any kind of state assistance from DHS they emediately take away or reduce your benefits , and the first thing to go is food money . so at the of the day your cola is a NOLA a big fat 0
Right wing drivel! Appeals to mouth breathers and buckle staggers.
What is a buckle stagger?
That is Mexican talk for people who can not hold their pants up because they are too uneducated to buckle their pants.
Social Security should not be taxed. Taxing it amounts to double taxation. Do congressmen get taxed on their retirement money that takes the place of Social Security?
My father used to bash government just like most people on this comment thread. He served 9 months in the military. He got cheap GI home loans, free health, dental, vision and hearing through the VA. He got unemployment insurance payments, disability nursing care coverage and end of life benefits for free.
Entitlements a great as long as they’re for me and not other people.
If you don’t like your government then move to China or the Soviet Union and you will actually have something to whine about.
Keep voting for the autocratic GOP and soon you will will find out what true loss of freedoms are.
Grow up and start appreciating the benefits and freedoms this country provides. You are not as deserving as you think you are.
I believe you got that backwards, vote Democrates as those that did are now seeing what loss of freedom” is, Loss of free speech, loss of freedow to travel, loss of freedom to own a firearm, loss of constitutional freedoms.
Social Security is what we paid for when we worked.
Everytime they talk about needing money to pay back something, why don’t all those people in Washington DC take a cut pay from their salaries. They can afford it. Also take some of those people out that have been there for forty years. Cut the terms for all office for a 4byear term only. And then when they retire from that, they go back to buying insurance like the rest of us. I’m sure they might see how people struggle on SS and all the expenses of living. They should not get their salaries for life either!
Social Security was meant to be a savings program, because it was stated by the government that they just knew that we would not save for our senior years and the government would be sad to watch all of us old folks die from hunger, and having to sleep out in the rain, and die from not being able to pay for medical help. Well, the ones who would do such a thing that would have been on them, not the ones who would save. So therefore, I say give me back what You took from me and I will be just fine, and I will put it in the bank and collect my own interest. How about that, This world will always be in conflict about so many things, why? Gee whiz, it’s as simple as breathing. Too many people to please, to many different opinions, and not enough room in the white house for all of us to rule.