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M., my question is did we get an increase for next year. I…

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My name is***** my...

My name is***** my question is did we get an increase for next year.

Accountant's Assistant: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.

I wanted to know did we get a cost of living increase for 2018? i did not receive a statement like I usually do.

Submitted: 6 months ago.Category: Social Security
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12/18/2017
Social Security Expert: TaxRobin, Tax Preparer replied 6 months ago
TaxRobin
TaxRobin, Tax Preparer
Category: Social Security
Satisfied Customers: 18,177
Experience: 15+ years in tax preparation and instruction
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Social Security Expert: TaxRobin, Tax Preparer replied 6 months ago

The Social Security Administration announced that the annual cost-of-living adjustment (commonly called COLA) for 2018 will be 2 percent.

The average retiree though may see that extra $25 (the expected cola increase based on the 2%) go toward paying the difference between their monthly Social Security check ($109) and the Part B cost ($134).

If you have an online SSA account you can get a statement there that shows what your specific benefits will be.

Please let me know if you need more information.
If not then please scroll up to see the STARS to rate so I am credited.

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