Good news for Social Security beneficiaries: This will be the new estimated average monthly payment starting in January 2025

Starting in January, the Social Security Administration (SSA) will begin distributing payments with the 2025 Cost-of-Living Adjustment (COLA) applied. The associated increase will be 2.5 percent, less than the 3.2 percent COLA offered in 2024.

For those interested in getting the intel on how much the COLA will increase their benefits, you can login to mySocialSecurity. The SSA has sent a letter to all beneficiaries containing information on their updated benefit amount for 2025.

How Medicare will impact Social Security benefits in 2025

In November 2024, the average Social Security payment for retired workers was $1,925.46, and with the 2.5 percent COLA, it will increase to $1,973.60 next year. The majority of retired workers receive healthcare through Medicare, and in 2024, the Part B premium, which is automatically deducted from one’s benefit check, was $174.70. When you account for the cost of the premium, the average benefit falls to $1,750.76. In 2025, the Part B premium will cost retired workers $185, bringing the average payment to $1,788.60. In other words, the average check will be around $13.00 higher starting in January.

For the qualified family members of retired workers, payments will increase by around $30.00 in 2025:

When will Social Security checks arrive in January?

The SSA distributes the vast majority of Social Security payments on Wednesdays. On Wednesday, January 8, recipients with birthdays between the 1st and 10th of any month will be paid. On Wednesday, January 15, checks will be sent to those with birthdays between the 11th and 20th, and finally, on Wednesday, January 22, the SSA will distribute checks for those born between the 21st and 31st.

The only exception to this schedule relates to beneficiaries receiving benefits since May 1997 or before. This group is paid on the third of the month, which falls on the first Friday of January.

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