![]() Because January 1, 2023, is both a holiday and a weekend, they will receive their benefits two days early, on December 30, 2022! See SSA’s Fact Sheet on 2023 Social Security Changes. ![]() Takedown request View complete answer on ssa. SSI Payment Schedule 2022 : First of Two September 2022 SSI Checks Soon The So' /> News Ticker March 16. Federal SSI payment levels will also increase by 8.7 percent effective for payments made for January 2023. The Social Security Administration has revealed their payment schedule for 2022, which is good news for the millions of Americans who receive SSI and Social Security benefits. Specific information about 2023 Medicare changes is available at These changes will take effect in January 2023, except for SSI recipients, who normally receive their benefits on the first of the month. Social Security benefits will increase by 8.7 percent beginning with the December 2022 benefits, which are payable in January 2023. The Medicare Part B premium rate will decrease, from $170.10 in 2022 to $164.90 in 2023. The new bill would seek to lessen the strain on people collecting. There is more good news for Medicare recipients. Inflation in May rose 8.6 from a year ago, a four-decade high that pushed up the cost of food, shelter, energy and other staples. The maximum taxable earnings for OASDI (old-age, survivors, and disability insurance) purposes will increase to $160,2. The Trial Work Period (TWP) threshold increases from $970 to $1,050 per month, and the Quarter of Coverage amount will increase to $1,640. The SGA for Blind workers increases from $2,260 to $2,460 per month. Substantial Gainful Activity (SGA) for Non-Blind workers will increase from $1,350 to $1,470 per month. Social Security’s disability thresholds are also increasing. We will post the 2023 New York State SSI benefit chart when it becomes available. The New York State supplement (SSP) will continue at $87 for individuals and $104 for couples living alone the living with others supplements remain at $23 and $46, respectively. The SSI resource limits remain unchanged at $2,000 for individuals and $3,000 for couples. The SSI rate for couples will increase from $1,261 to $1,371. The monthly SSI benefit rate will increase $73, from $841 to $914, compared to last year’s $47 increase. ![]() That amount is expected to increase substantially in 2023 thanks to this year’s high inflation rate. Last year’s COLA increase was also a record-breaker at 5.9 percent. The average Social Security benefit for 2022 is 1,657 a month, CNET reported. This pay bump will occur because beneficiaries are entitled to the largest. Monthly benefits will increase an astonishing 8.7 percent, the largest since 1981. But current Social Security recipients will also face a big shift in 2022. That will make a difference.The Social Security Administration (SSA) announced a record-breaking cost-of-living adjustment (COLA) increase to Social Security and Supplemental Security Income (SSI) benefits for 2023. "Wow!" Christophersen exclaimed when told about the expected boost to her benefits. That will boost the average benefit by $141 a month. The DC will issue a retroactive payment to residents in state supplement optional supplementation (OS), OS-A and OS-B, in February 2023 to make up for the 2021 shortfall and meet the 2022 pass-along compliance. Now though, with prices climbing rapidly, retirees can look forward to the biggest cost-of-living adjustment, or COLA, in four decades: 8.7%. Most years, when prices are stable, it's a trivial adjustment. The annual increase is automatic - pegged to inflation the previous July, August and September. Luckily, Social Security benefits will also be going up substantially in January. "I just got my rent increase notice Tuesday," she said, noting that her lease expires in December. She's worried that before long she'll have to downsize. Rent on a two-bedroom apartment in a Tulsa senior community gobbles up much of Christophersen's monthly income. For families who heat with natural gas, the increase could be 28%. On Tuesday, the Energy Department warned that electric heating bills will likely be 10% higher this winter than last.
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