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Announced 1.5 Percent Benefit Increase for 2014 (Current Yr.)
Monthly Social Security
and Supplemental Security Income (SSI) benefits for nearly 63
million Americans will increase 1.5 percent in 2014, the Social
Security Administration announced.
Social Security COLA for 2015 will be announced around mid to
late October, and will be posted immediately ON THIS PAGE.
Bookmark this page to return. Best guess is that it will be
announced about October 22, 2014, and should be around a 1.7%
2014 Medicare Part B
Premium: (Current Yr.) In 2013 this premium
$104.90 for most of us.
This premium applied
to incomes less than $85,000/year.
On October 28, 2013 it was
announceed by the Centers for Medicare & Medicaid Services (CMS)
that there will be no increase in 2014 Medicare Part B premiums and deductibles, and
more than $8 billion in cumulative savings in the prescription drug
coverage gap known as the “donut hole.”
NOTE FOR 2015: October
9, 2014 - Secretary of Health and Human Services (HHS) Sylvia
Burwell announced today that next year’s standard Medicare Part B
monthly premium and deductible will remain the same as the last two
years. This leaves more of seniors’ cost of living adjustment from
Social Security in their pockets
Despite a small increase, at least five
million people aged 65 and over will remain in poverty, since
senior costs are rising significantly faster than the annual
Social Security Cost of Living Adjustment (COLA).