The 3.2 percent Social Security increase for 2024 is higher than it has averaged over the past two decades, but it certainly is nowhere near the 8.7 percent increase we received for 2023.

This 2024 increase will mean $58 more per month for those receiving the average benefit in 2023. Out of that $58, we’ll pay an additional $10 for Medicare Part B.You must be logged in to view this content.