{"id":1706523,"date":"2022-10-22T06:10:03","date_gmt":"2022-10-22T10:10:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1706523"},"modified":"2022-10-22T06:18:37","modified_gmt":"2022-10-22T10:18:37","slug":"social-security-benefits-set-to-rise-over-140-per-month-in-2023","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-benefits-set-to-rise-over-140-per-month-in-2023\/","title":{"rendered":"Social Security Benefits Set to Rise Over $140 Per Month in 2023"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsocial-security-benefits-set-to-rise-over-140-per-month-in-2023%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1706523&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div class=\"TopBanner-container\" data-top-banner-placeholder=\"true\"><\/div>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>A record 8.7% Social Security cost-of-living adjustment will mean bigger monthly benefit checks in 2023.<\/li>\n<li>Here&#8217;s how to gauge the size of your increase.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107138943\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCredit\">Xavierarnau | E+ | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Social Security benefits will go up by more than $140 per month on average in 2023, as a record 8.7% cost-of-living adjustment kicks in.<\/p>\n<p>Exactly how much of an increase the approximately 70 million Americans who rely on the program for income will see will vary.<\/p>\n<p>More than 65 million Social Security beneficiaries will see their benefit checks increase in January, while more than 7 million Supplemental Security Income beneficiaries will see bigger payments starting on Dec. 30.<\/p>\n<p><strong>More from Personal Finance:<\/strong><br \/><a href=\"https:\/\/www.cnbc.com\/2022\/10\/19\/irs-here-are-the-new-income-tax-brackets-for-2023.html\">IRS: Here are the new income tax brackets for 2023<\/a><br \/><a href=\"https:\/\/www.cnbc.com\/2022\/10\/20\/irs-how-much-income-you-can-have-for-0percent-capital-gains-taxes-in-2023.html\">How much you can earn and still pay 0% capital gains taxes in 2023<\/a><br \/><a href=\"https:\/\/www.cnbc.com\/2022\/10\/19\/irs-bumps-estate-tax-exclusion-to-12point92-million-for-2023.html\">IRS bumps up estate tax exclusion to $12.92 million for 2023<\/a><\/p>\n<p>The average retiree benefit will go up by $146 per month \u2014 to $1,827 in 2023 from $1,681 in 2022. Meanwhile, the average disability benefit will increase by $119 per month \u2014 to $1,483 in 2023 from $1,364 in 2022.<\/p>\n<\/div>\n<div class=\"group\">\n<div id=\"RegularArticle-DataWrapperChart\" class=\"DataWrapperChart-dataWrapperContainer\"><\/div>\n<\/div>\n<div class=\"group\">\n<p>Supplemental Security Income, or SSI, beneficiaries will see the standard individual monthly payment increase $73 per month, to $914 per month in 2023 from $841 this year.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"DataWrapperChart-dataWrapperContainer\"><\/div>\n<\/div>\n<div class=\"group\">\n<p>The Social Security Administration will provide notices in the coming months that include your new monthly benefit for 2023.<\/p>\n<p>To find out exactly how much you stand to receive sooner, you can calculate the change on your own:<\/p>\n<p>Multiply your net Social Security benefit by 8.7%, the 2023 cost-of-living adjustment.<\/p>\n<p>To get the most accurate read, add your Medicare Part B premium to your net Social Security benefit and then multiply that sum by the 2023 COLA, recommends Joe Elsasser, an Omaha, Nebraska-based certified financial planner and founder and president of Covisum, a provider of Social Security claiming software.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"DataWrapperChart-dataWrapperContainer\"><\/div>\n<\/div>\n<div class=\"group\">\n<p>That&#8217;s in contrast to other years, where it would usually be more appropriate to instead deduct your premium for Medicare Part B, Elsasser said.<\/p>\n<\/div>\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107075227\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000249887\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107075228-16551625051655162503-23715703213-1080pnbcnews.jpg?v=1655162505&#038;w=750&#038;h=422&#038;vtcrop=y\" alt=\"Managing your retirement account in a volatile market: Don&#039;t panic\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Premium payments for Medicare Part B, which covers outpatient care, typically come directly out of Social Security benefit checks.<\/p>\n<p>Those premiums will be <a href=\"https:\/\/www.cnbc.com\/2022\/09\/27\/medicare-standard-part-b-premiums-will-drop-by-3percent-to-164point90-next-year.html\">about 3% lower in 2023<\/a>, with the standard monthly premium dropping $5.20 per month, to $164.90 in 2023 from $170.10 in 2022.<\/p>\n<\/div>\n<div class=\"group\">\n<p>Those who have higher incomes, based on tax returns from two years earlier, will pay more than the standard monthly rate.<\/p>\n<p>Those income-related adjustment amounts in 2023 will start at $97,000 for single filers and $194,000 for married couples who file jointly.<\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/4db8932b7ac3e84e3f64.svg\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A record 8.7% Social Security cost-of-living adjustment will mean bigger monthly benefit checks in 2023. Here&#8217;s how to gauge the<\/p>\n","protected":false},"author":1,"featured_media":1706526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1706523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1706523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1706523"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1706523\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1706526"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1706523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1706523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1706523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}