After two years with no increase in the cost of living adjustments for Social Security Recipients, Social Security and Supplemental Security Income benefits will increase 3.6 percent as of January 2012.
Social Security recipients will see in the increases in their January 2012 checks while those individuals receiving Supplemental Security Income will see their increases in the December 2011 benefit payment. This is an important increase for beneficiaries who have seen their benefits remain the same over two years while costs have increased and the economy has struggled.
While this increase in benefits is good news for most individuals collecting Social Security and Supplemental Security Income, it may not apply in practice as a true increase because expected increases in Medicare premiums may partially or completely offset the benefit increase.
Attorney Jennifer J. Allen is an associate attorney with Alan C. Olson & Associates, S.C. If you have any questions about Social Security Disability, please contact her at [email protected]