Social Security Announces 3.6% Benefit Increase for 2012

October 20, 2011

On Wednesday, October 19, 2011 the Social Security Administration announced the first cost-of-living adjustment (COLA) since 2009. Over 60 million Americans will receive a 3.6% increase in their Social Security and Supplemental Security Income (SSI) benefits.

Increased payments for over 8 million SSI beneficiaries begins on December 30, 2011, and nearly 55 million Social Security beneficiaries will start getting their 3.6% cost-of-living adjustment in January 2012. According to the SSA press release, the Social Security increase for some beneficiaries “may be partially or completely offset by increases in Medicare premiums.”

More information:

Visit Extend Health — the nation’s largest private Medicare exchange.

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