COLA (Cost of Living Adjustment) 2013
COLA (Cost of Living Adjustment) 2013
Social Security has released the new cost of living adjustment – the increase is 1.7%, effective January 1, 2013. However, information about Medicare premiums has not yet been released.
If you are working on Annual Recertifications for January through April, HUD allows two options: (a) You may use the tenant’s current SS benefit amount, or (b) You may apply the increase to the tenant’s current SS benefit amount EIV Income Reports, printed in January for May Annuals, should include the COLA.