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SSA Pays Small COLA for 2017

January 31, 2017

Monthly Social Security and Supplemental Security Income (SSI) benefits will increase 0.3 percent in 2017 due to a very small increase in the Consumer Price Index (CPI-W).

The monthly SSI federal benefit rate for an individual will go up $2 to $735; the monthly rate for a couple goes up $3 to $1,103. The New York supplement will continue at $87 for individuals and $104 for couples living alone; the living with others supplements remain at $23 and $46, respectively. A 2017 New York State SSI benefit chart is available at: http://otda.ny.gov/policy/directives/2016/INF/16-INF-18-Attachment-1.pdf

Thanks to Jim Murphy of Legal Services of Central New York, SSI benefit charts from 1976 to 2015 are available at http://www.empirejustice.org/issue-areas/disability-benefits/non-disability-issues/benefits-level-charts/ssi-benefit-levels-published.html.

With the small COLA, other of SSA’s benchmarks also saw slight increases. Substantial Gainful Activity (SGA) threshold for Non-Blind has increased to $1,170 per month. The SGA level for blind workers went to $1,950. The Trial Work Period (TWP) threshold increased to $840 per month (from $810). The quarter of coverage amount has increased to $1,300. The maximum taxable earnings for OASDI (old-age, survivors and disability insurance) purposes went to $127,200 in 2017.

Most beneficiaries will pay Medicare Part B monthly premiums of $109.00 per month in 2017. Some higher earning beneficiaries will have higher premium rates. For more details, see http://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html.

For SSA’s Fact Sheet on 2017 Social Security Changes, see https://www.ssa.gov/news/press/factsheets/colafacts2017.pdf.

 





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