Some good news for Seniors
Social Security announced a 3.6 percent increase in benefits for 2012. This is the first cost-of-living increase since 2009.
What does that mean to you? If you are receiving social security, your increase will start with checks issued in January, 2012. The average recipient receives $1,175 per month according to the Social Security Administration, and the benefit could increase about $35 per month. While this may help to offset a higher cost of living, the increase may be negated by the increase in Medicare premiums which is expected to be announced soon. Those who are disabled and receiving SSI benefits will also receive an increase in payments beginning December 30, 2011.