News

2014 Cost of Living Adjustments Increase

Posted by vcv on December 9, 2013 at 3:30 PM

The Social Security Administration announced that there will be a 1.5% cost of living adjustments (COLA)  for  Social Security and Supplemental Security Income (SSI) beneficiaries for 2014.  This marks the third year that there has been a COLA increase.  

Texas has 3.6 million Social Security beneficiaries, which includes retired workers, disabled workers widows and dependents.  In the the 29th District, 70,446 receipients will benefit from the increase.  

Sometimes, a Social Security  COLA increase is offset by an incease in Medicare Part B premiums or deductibles which affect recipients who are at least 65 years old.  For 2014, the good news is that the Centers for Medicare & Medicais (CMS) has announced that there will no increase for 2014, resulting in even more money in the pockets of beneficiaries.

Paper statements are NO longer mailed due to the Paperwork Reduction Act to save taxpaper money. 

To view your  Social Security  benefits, visit: www.ssa.gov/myaccounts. 

For more information on the cost-of-living adjustment, visit: www.socialsecurity.gov/cola or call the  Social Security Administration's toll-free number at 1-800-772-1213.

-Information provided by Rep. Green Winter 2014 newletter.

 


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