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Here are five major Social Security changes happening next month, including a larger payment

FingerLakes1.com
FingerLakes1.com
 2021-12-02
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There will be a few changes in 2022 when it comes to Social Security benefits.

70 million disabled or elderly Americans can expect these changes starting in January of 2022.

Almost 9 out of 10 people over the age of 65 collect benefits.

Here are 5 major changes coming to Social Security beginning Jan. 1, 2022

There will be a 5.9% increase in benefits.

It was announced in Oct. that the COLA increase would be 5.9%.

This means the average check will rise by $92. It will go from $1,565 to $1,657 per month.

A couple collecting benefits will see an increase of $154. This will bring the average from $2,599 to $2,753 per month.

Recipients will get a letter detailing their increase in Dec.

The increase applies to anyone collecting to Social Security Disability Insurance as well.

The increase will be an average of $76, bringing the monthly average from $1,282 to $1,358 a month.

The earnings limit is set to increase.

If you choose to work while you also collect benefits, then your benefits could decrease.

If you made over $18,960 in 2021 then the SSA will hold $1 for every $2 that you make past that.

Beginning in 2022 that limit will increase to $19,560.

The credit earning threshold will also rise.

You need to earn 40 credits in all to collect Social Security when you retire.

The dollar amount goes up every year and in 2022 it will rise $40.

It will go from $1,470 in 2021 to $1,510 in 2022.

The number of credits you need for disability depends on how old you are when you become disabled.

Finally, the maximum earnings subjected to Social Security tax will increase from $142,800 to $147,000.

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Comments / 19

Catherine Parrish
12-03

yeah you get a larger payment to pay the premiums and the copay for the medicine there's no fucken increase it goes right back into the system

Reply(1)
14
Dove Pl
12-04

Don't know why they don't just give it to the insurance companies and Medicare cause that's where it's all going. It sounds good for them to say we're getting a raise like we're really getting something 🤣😭

Reply
4
Debra Bogard Deason
12-04

yeah since medicare raised 14.9% this next year What was the 5.9% for a kick in the mouth. No help at all!

Reply
4

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