Beneficiaries will receive a notice of theirincreased monthly paymentfrom the Social Security Administration in December.
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Log into your My Social Security account, then select email or text notifications under message center preferences.
Or, you could do the math yourself.
Simply multiply your current benefit amount by 0.025 to determine how muchyour monthly paymentcould increase.
The increase has been decreasing in recent years.
Maybe youre scrambling after your car broke down.
Or you got a medical bill you werent expecting.
Or inflation has finally pushed your budget over the edge.
You dont need to go it alone.
When money is tight,these resourcescan help you manage unexpected expenses without stress.
However, only beneficiaries who created an account prior to Nov. 20 will receive their 2024 COLA notice online.
Go to www.ssa.gov/myaccount to begin.
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Some of That COLA Goes to Medicare
There is no such thing as a free lunch.
Details about the Medicare increase will be available at www.medicare.gov in late November.
Timothy Moore contributed to this report.
