In 2025, Social Security benefits rise by $49 monthly, but higher Medicare costs net a $39 gain.

In 2025, Social Security beneficiaries will receive a 2.5% cost-of-living adjustment, raising their benefits by about $49 per month on average. However, this increase is partially offset by a $10.30 rise in Medicare Part B premiums, resulting in a net increase of $39 per month for many. The wage cap for Social Security taxes will also rise to $176,100, up from $168,600, impacting high-income earners. Additionally, the earnings limit for workers below full retirement age will increase to $23,400, and for those reaching full retirement age in 2025, it will be $62,160.

November 18, 2024
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