The year ahead will be one with many changes for Social Security beneficiaries, some they will like to see, others not so much. Social Security benefits increase 5.9% in 2022 thanks to a cost of living increase, the largest cost of living increase since 1982. However, the AARP’s Sean Voskuhl said the increase will also impact Medicare premiums.

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“Although the 2022 increase is substantial, most beneficiaries won’t see the full amount in their checks because Medicare Part B premiums are deducted directly from most Social Security retirement payments. Due to inflation and other factors, Medicare Part B premiums jumped to $170, up $21 from last year. If you would like to get an estimate of your Social Security benefits and other valuable information visit AARP Social Security Benefits calculator.”

Voskuhl stressed that beneficiaries need to keep an eye out for scammers.

“Recently, the Inspector General for the Social Security Administration released a Fraud Advisory warning the public about widespread Social Security-related telephone scams that may use sophisticated tactics to deceive them into providing sensitive information or money. Tactics such as using real names of Social Security representatives or citing badge numbers of law enforcement officers in order to try and legitimize their emails and calls.” 

Voskuhl said there are a few ways you can identify a Social Security scam, noting that Social Security will never:

  • Suspend your number because someone else has used it in a crime
  • Threaten you with arrest or other legal action unless you immediately pay a fine or fee
  • Require payment by retail gift card, wire transfer, internet currency, or mailing cash
  • Promise a benefit increase or other assistance in exchange for payment
  • Send official letters or reports containing your personal information via email

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