Social Security Benefit Hike Comes in Jan.
Over a million Minnesotans on Social Security will see their monthly benefit climb in 2023. The Social Security Administration announced an eight-point seven percent boost in the monthly benefit. That means the average recipient will see an extra $140 per month. A-A-R-P State Director Cathy McLeer says the boost comes just in time.
The increase comes after news that Medicare Part B premiums will drop three percent this year. About 70 million Americans receive Social Security benefits.