"Anticipating Social Security Check Increases: What to Expect in 2024"
The Social Security cost-of-living adjustment (COLA) for 2024 is projected to be 3.2%. To calculate your estimated monthly benefit for next year, you can add your current Social Security check to your monthly Medicare Part B premium and apply the COLA. Alternatively, you can do a rough calculation by multiplying your current benefit by 1.032. The maximum benefit for a retired worker claiming at full retirement age will increase to $3,822 per month in 2024, while the average benefit for all retired workers will be $1,907.