If you’ve been receiving social security you’ll see a sizable jump in your monthly check as the Social Security Administration has issued an 8.7% cost-of-living adjustment for 2023.

What’s more, Medicare Part B premiums are declining next year from $170.10 a month to $164.90 a month – providing an additional modest increase to social security checks for those enrolled in Part B since the premiums are automatically deducted.

Craig Schwegman joins JET 24 Action News to explain how you can take advantage of this increased income.