Senior service expert breaks down upcoming Social Security increase
SHREVEPORT, La. (KSLA) - In 2023, millions of disabled and elderly Social Security recipients will get an 8.7% increase to their benefits.
The boost is being administered to combat inflation costs which are now up 8%. The cost-of-living adjustment - the largest in more than 40 years - means the average recipient will receive more than $140 extra a month beginning in January.
The boost in Social Security benefits will be coupled with a 3% drop in Medicare Part B premiums, meaning retirees will get the full impact of the Social Security increase.
Tamera Crane is the executive director of the Bossier Council on Aging. She says she’s excited for the people she works so closely with.
“A lot of our senior citizens and those on disability that are dependent 100% on that income, that’s severely need in their pocket books,” she said.
However, Crane also shared some concerns towards about the increase in benefits. One of them was that receiving increased income effects some recipient’s eligibility for certain federal programs like Medicaid and food stamps.
She says this problem came about two years ago.
“Couple of years ago, Social Security recipients also received a COLA increase that was a little more than normal. We also noticed that a lot of our clients, and me personally, I have a child on disability, that the state did not adjust the income level requirements, or income based requirements for those services.”
Crane says that some senior citizens still avoid certain medical treatment due to lack of assistance.
KSLA reached out to the Social Security Administration office for comment and potential resources. They were unable to provide a comment.
Copyright 2022 KSLA. All rights reserved.