MAJOR CHANGES IN SOCIAL SECURITY 2023: RELIEF FOR RECIPIENTS
HIKE OF 8.7% ON COLA(cost of living adjustment
Highest increment on cost of living adjustment since 1981. Huge relief by the Social Security Administration.
8.7%
Under Social Security benefits, the earnings limit for DISABLED WORKERS got a hike from $2,260 to $2460.
After almost a decade medicare payments will be going DOWN this year. And it is going to be of great help to recipients, basically for seniors.
The changes are not limited to just this; taxes on benefits, the disability threshold, and security payroll taxes will also change this year.
In order to qualify for social security benefits, you must have 40 LIFETIME EARNING CREDITS.Workers should begin checking their job status and plan accordingly to experience the benefits.