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Social Security benefits will increase by 0.3 percent beginning with the December 2016 benefits, which are payable in January 2017. Federal SSI payment levels will also increase by 0.3 percent effective for payments made for January 2017.
Retirees will see a 3.6 percent increase in their Social Security checks in 2012, with the typical retiree getting about $43 more each month. For most people, only a small portion of that boost will be deducted from Social Security checks to pay for higher Medicare Part B premiums. Some people will even get more than 3.6 percent added to their Social Security checks next year because their Part B premiums will decrease. Here's how Medicare Part B premiums will affect your Social Security checks in 2012.