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LOS ANGELES — Social Security officials Wednesday announced a 3.6 percent cost-of- living increase, the first such automatic hike since 2009. According to the Social Security Administration, 55 million elderly will receive the 3.6 percent hike in January, while 8 million beneficiaries in the Supplemental Security Income program will receive the same increase as of Dec. 30.
The increase could be offset by expected increases in Medicare, the health care program for the elderly. The new Medicare premiums are to be announced this month.
