COLA announced. 2% increase in Social Security checks for 2018

The Social Security Administration announced a 2% cost-of-living adjustment (COLA) for 2018. This is the highest increase since 2012 partly because Hurricanes Harvey and Irma caused a jump in gas and other prices in September. The yearly COLA amount is based on increases in the Consumer Price Index which measures the cost of inflation for goods, but not health care.  Most people receiving Social Security are retired or disabled.  For most, health care is their biggest expense, and it is one of the fastest rising costs in America. The average Social Security check in 2017 was $1,377 a month.  Next year's increase will raise the average payment by $27.  For most beneficiaries, this increase will be offset by increases in Medicare premiums.

2.0% Social Security COLA increase for 2018

Increases will go into effect on the first check in January of 2018.

Historical Social Security COLA increases 2003-2018
2003 COLA 1.4%
2004 COLA 2.1%
2005 COLA 2.7%
2006 COLA 4.1%
2007 COLA 3.3%
2008 COLA 2.3%
2009 COLA 5.8%
2010 COLA 0.0%
2011 COLA 0.0%
2012 COLA 3.6%
2013 COLA 1.7%
2014 COLA 1.5%
2015 COLA 1.7%
2016 COLA 0.0%
2017 COLA 0.3%
2018 COLA 2.0%


Loyd J. Bourgeois
Connect with me
Disability and Personal Injury Attorney
Be the first to comment!
Post a Comment