The Social Security Administration announced this week that there will be a Cost of Living Adjustment (COLA) for Social Security and Supplemental Security Income (SSI) benefits for more than 65 million Americans. The increase will be 0.3 percent and will start in January 2017. The intention of the increase is to help offset the rising cost of living for seniors.
Medicare premiums for 2017 have still not been announced. We will keep you posted as soon as they are.