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After no increase in 2016, Social Security recipients will receive a cost of living (COLA) increase of 0.3 percent in 2017. This cost of living adjustment is estimated to result in a typical Social Security beneficiary receiving an extra four to five dollars per month. The increase will become effective on January 1, 2017, but recipients should expect to receive a new Social Security award letter in the mail this December. While this is a small increase, it is a good reminder for those consumers who are on Medicaid and enrolled in a Pooled Income Trust. They should re-calculate their income for 2017 from Social Security and all other sources, such as pensions and required minimum distributions from retirement accounts. This will determine whether an increase in their monthly Pooled Income Trust deposit is necessary.

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