When Will 2024 Ssa Cola Be Announced. The 8.7% cola in 2023 marked the largest percentage increase in 41 years. While the cola increase will boost social security benefits, it is anticipated that the standard medicare part b premium will also rise.
Social security beneficiaries start receiving their cola increase at the beginning of the year, so most recipients will see their first payment that includes the 2024 cola. The ssa said it would begin mailing notices of the increase to beneficiaries in early december.
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