Federal Cost of Living Increase
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase by 5.9 percent in 2022, up from the 1.3 percent cost of living adjustment (COLA) increase in 2021. The Social Security Administration (SSA) recently announced that the benefit increase for Social Security beneficiaries will begin in January 2022. The COLA increase is based on Consumer Price Index (CPI) changes determined by the Department of Labor’s (DOL) Bureau of Labor Statistics. For more information on the COLA, click here.
For adult care facility (ACF) and assisted living residents who receive Congregate Care Level 3 SSI, this COLA will be applied to the federal portion of the benefit, which will increase the monthly benefit to approximately $841. Unfortunately, without a state COLA, the monthly State Supplement (SSP) remains $694. Therefore, the 2022 monthly benefit for SSI and SSP will be approximately $1,535.
Contact: Ken Allison, firstname.lastname@example.org, 518-867-8820