SSA Announces 2015 COLA Increase of 1.7%
On Oct. 22, 2014, the Social Security Administration (SSA) announced that the cost of living adjustment for 2015 benefits will be 1.7 percent. This means that recipients of Social Security and Supplemental Security Income (SSI) benefits will see a 1.7 percent increase in their monthly benefit amount as of Dec. 31, 2014.
Information about Medicare changes for 2015 is available at www.Medicare.gov. For the Part B premium, most people pay $104.90 each month. This amount won’t change in 2015. For the Part B deductible, most people pay $147 per year and this amount won’t change in 2015.