Social Safety Cheat Sheet 2023: A Information to This Yr’s Advantages

It is an eventful time of the yr for Social Safety recipients. In January they obtained their first cost-of-living adjustment improve and tax season commenced — Jan. 23 was the primary day particular person filers may submit their tax return. When you’re in any respect overwhelmed by the prospect of submitting your tax return or holding monitor of your advantages, we’re right here to assist. 

To information you thru among the ins and outs of Social Safety — from what it’s essential to know for tax season, to when you need to search for your checks — CNET has compiled this cheat sheet, which is recurrently up to date so you’ll be able to keep on high of the most recent particulars.

It is tax season. What do I have to know for my Social Safety advantages? 

Tax season formally began on Jan. 23. That was the day when particular person filers may start to submit their 2022 tax returns to the Inner Income Service. The ultimate day to submit your tax return is Tuesday, April 18. Sure, it looks like you have acquired on a regular basis on this planet to file your return, however that deadline will sneakily creep up on you. Get your tax questions answered and file that return ASAP to keep away from last-minute stress. 

How a lot is my Social Safety COLA improve for 2023?

Social Safety beneficiaries will obtain the best cost-of-living adjustment in practically 40 years this yr. Month-to-month funds will improve by 8.7% — the best since 1981. Here is every thing it’s essential to learn about the way it impacts you.

When will I get my Social Safety examine?

Whether or not you are a brand new Social Safety beneficiary otherwise you’ve been receiving it for many years, understanding when your examine will arrive every month is a should. Your cost date relies on your birthday and whenever you began receiving advantages. Every month, these tales are up to date to mirror the precise dates for when the Social Safety Administration will disburse your cost.

Stimulus money payments

Learn the way a lot cash you will get subsequent yr.

James Martin/CNET

Tips on how to apply for advantages

There are a number of various kinds of advantages you’ll be able to obtain from the Social Safety Administration and different federal applications. Here is what they’re and tips on how to apply.

I will not acquire Social Safety advantages for years. What ought to I do know now?

Making ready for Social Safety is vital, no matter how shut you’re to retirement. But it surely’s by no means too early to find out about how your advantages will work when you’re prepared to start amassing them. 

Extra Social Safety data that is vital to know

Except for Social Safety advantages, understanding vital details about your Social Safety quantity and card may help stop future mishaps. For example, should you want a substitute Social Safety card or have to know who it is OK to share your SSN with, we may help.

How is Medicare associated to Social Safety?

Medicare insurance coverage within the US is for these age 65 or older, or certain people with disabilities. This system is designed to assist with the price of well being care and prescribed drugs. Whether or not you obtain it now or plan to sooner or later, it is good to brush up on the way it works.

For added medical insurance data, this is what to learn about Reasonably priced Care Act well being plans and tips on how to save on well being care if you do not have insurance coverage.