New Years Cheers with a COLA!

New Years Cheers with a COLA!

Happy New Year from California Health Advocates and from Social Security! In 2015, nearly 64 million Americans who receive Social Security or Supplemental Security Income (SSI) will receive a cost-of-living adjustment (COLA) increase of 1.7% to their monthly benefit payments.

The average monthly Social Security benefit for a retired worker in 2015 is $1,328 (up from $1,306 in 2014). The average monthly Social Security benefit for a disabled worker in 2015 is $1,165 (up from $1,146 in 2014).

See our Medicare Basics section for 2015 Medicare cost information. For more info on the COLA, including how it’s calculated, see the Social Security website.

Our blogger Karen J. Fletcher is CHA's publications consultant. She provides technical expertise, writing and research on Medicare, health disparities and other health care issues. With a Masters in Public Health from UC Berkeley, she serves in health advocacy as a trainer and consultant. See her current articles.