Good news for Social Security beneficiaries: This will be the new anticipated average monthly payment beginning January 2025.
Beginning in January, the Social Security Administration (SSA) will distribute payments with the 2025 Cost-of-Living Adjustment (COLA) applied. The related rise will be 2.5 percent, which is lower than the 3.2 percent COLA promised in 2024.
Log in to mySocialSecurity to find out how much the COLA will increase your benefits by. The Social Security Administration (SSA) has given all recipients a letter with information on their adjusted benefit amount for 2025.
How will Medicare affect Social Security payouts in 2025?
In November 2024, the average Social Security benefit for retired workers was $1,925.46, and with the 2.5 percent COLA, it will rise to $1,973.60 the following year. The majority of retired workers receive healthcare through Medicare, and in 2024, the Part B premium, which is automatically withdrawn from one’s benefit check, was $174. 70. After deducting the premium cost, the average benefit is $1,750.76. In 2025, the Part B premium for retired workers will be $185, bringing the average payment to $1,788.60. In other words, the typical paycheck will be about $13.00 higher beginning in January.
Payments to qualifying family members of retired workers will increase by around $30.00 in 2025.
- Spouses of retiring employees: $931.48
- Children of retired workers: $917.19.
When will my Social Security check arrive in January?
The SSA distributes the vast majority of Social Security benefits on Wednesdays. On Wednesday, January 8, beneficiaries with birthdays between the first and tenth of any month will get payment. On Wednesday, January 15, checks will be issued to individuals born between the 11th and 20th, and on Wednesday, January 22, checks will be distributed to those born between the 21st and 31st.
The only exemption to this schedule is to beneficiaries who have received benefits from May 1997 or before. This group is paid on the third of each month, which falls on the first Friday of January.
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