Social Security

Social Security beneficiaries will have a lot to cheer about in 2022, but they may have a few things to grumble about as well. Social Security benefits are increasing 5.9 percent in 2022 thanks to a cost of living increase, the largest cost of living increase since 1982. However, AARP Oklahoma state director Sean Voskuhl says the increase will unfortunately be reduced by the Medicare premium increase.

“Although the 2022 increase is substantial, most beneficiaries won’t see the full amount in their checks because Medicare Part B premiums are deducted directly from most Social Security retirement payments. Due to inflation and other factors, Medicare Part B premiums jumped to $170, up $21 from last year. If you would like to get an estimate of your Social Security benefits and other valuable information visit AARP Social Security Benefits calculator.”

 

And keep in mind that scammers are always trying to get your Social Security funds.

“Recently, the Inspector General for the Social Security Administration released a Fraud Advisory warning the public about widespread Social Security-related telephone scams that may use sophisticated tactics to deceive them into providing sensitive information or money. Tactics such as using real names of Social Security representatives or citing badge numbers of law enforcement officers in order to try and legitimize their emails and calls.”