Beneficiaries will see 1.5% increase in benefits
Congressman Gene Green released the following statement after the Social Security Administration announced today that there will be a 1.5% Cost-of-living adjustment (COLA) for Social Security and Supplemental Security Income (SSI) beneficiaries for 2014.
Texas has 3.6 million Social Security beneficiaries including retired workers, disabled workers, widowers and dependents. In the 29th District, 70,446 recipients will benefit from the increase.
“I’m glad to hear that there will be another cost-of-living adjustment for seniors and beneficiaries next year. There are over 2.5 million Social Security beneficiaries over the age of 65 in Texas that depend on Social Security and for many of them, Social Security is the basis of their monthly income. The fact that Medicare Part B premiums will not change is also great for seniors.”
Medicare Part B premiums and deductibles will not change for 2014, resulting in greater savings for beneficiaries.
For more information, visit the Social Security Administration website at www.ssa.gov/pressoffice/pr/2014cola-pr.html.