SSA Announces 1.3 Percent Cost-of-Living Adjustment for Social Security and SSI
The Social Security Administration (SSA) announced on Oct. 13th that Social Security and Supplemental Security Income (SSI) beneficiaries will see a 1.3 percent cost-of-living adjustment (COLA) increase for 2021.
For adult care facility (ACF) and assisted living residents, the 1.3 percent COLA is applied only to the federal portion of the benefit. The State supplemental program has no COLA, which is why the reimbursement has fallen so far out of pace with current costs.
According to the SSA press release, "Information about Medicare changes for 2021, when announced, will be available at www.medicare.gov. For Social Security beneficiaries receiving Medicare, Social Security will not be able to compute their new benefit amount until after the Medicare premium amounts for 2021 are announced. Final 2021 benefit amounts will be communicated to beneficiaries in December through the mailed COLA notice and my Social Security's Message Center."
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