Are you staying on top of Social Security Changes? If not, you should! Numerous changes are coming in 2017 that could increase your earnings.
To start, a cost of living adjustment was made to factor in the rising costs of life. The increase is .3 percent which will translate to estimated $5 more per month.
Other changes include an increased earnings limit, which allows retired or disabled workers to bring home more income without impacting their Social Security benefits.
However, not all changes are beneficial. The administration closed the loophole that allowed spouses to double claim their benefits. Existing claims will remain in effect, but further requests will not be allowed. Therefore, it’s important for individuals on Social Security or those considering filing for it to stay on top of upcoming changes. No doubt there will be an increase in workers filing for the double spouse benefits before the changes take effect.
If you’re disabled or need assistance with filing for Social Security, be sure to work with an SSDI attorney who can help you process your claim as quickly as possible.