The shipments this month of the enlarged Social Security checks for the 5.9% increase in the Cost of Living Adjustment (COLA) will begin to be released as of next Wednesday, February 9.
That date would be the one corresponding to the first weekly delivery of the month of February.
The Social Security Administration (SSA) organizes its delivery schedule based on the birthdays of the beneficiaries .
Usually, the first people to receive payments are those who meet between days 1 and , regardless of the month. Beneficiaries who meet between the days 11 and 20 , are the second group of recipients to whom the money is disbursed. While the third round is addressed to the birthday boys between 21 and 31.
The Social Security Administration proceeds with the delivery cycle every Wednesday of the month, except the first. This means that after the processing of the first payments of February next Wednesday, 9; the agency will continue distribution, February 16 and February 23 .
This year, millions of recipients of SSA programs will receive a larger amount of money, this as a result of the application of 5.9% by COLA that seeks to help Americans fight against the increase in inflation as well as in the cost of goods and services.
Last month, Social Security began shipments of checks increased by COLA. The first disbursement was made on 12 January.
The entity estimated at about $92 dollars per month the average additional amount beneficiaries will receive under COLA or a total of $1,657 compared to $1, 565 last year.
However, many recipients may not experience the increase due to the increase in14.5% on Medicare Part B premiums.
The above implies a deduction to Social Security funds to cover Medicare Part B.
Part B covers Medicare medical services or many medically necessary services not covered by Part A, such as preventive and outpatient services.
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The online tool to find out how much more money you will receive for a 5.9% increase in Social Security checks