For less-wealthy recipients, the changes will be felt as smaller-than-expected Social Security increases. The Social Security COLA next year is 1.7 %. After Part B premiums are deducted, seniors receiving a $1,000 monthly benefit will see a net increase of $12, or 1.2 %; the net increase for those receiving $2,000 will be $29, or 1.45%.
High-income seniors (those with incomes exceeding $85,000 for single filers and $170,000 for joint filers), who already pay surcharges on top of the standard premium, will pay the 5% increase plus surcharges that rise with income. Their Part B increases will range from $42 to $230.90.