Social Security gave an 8.7% raise to beneficiaries in January 2023, the biggest raise in over 40 years. Prices have gone up for everything. Grocery shopping is an exercise in shock therapy. You never know what you’re going to pay for gas. Many of us have limited the times we go out to eat. Rents and utilities are also on the rise. Those on fixed incomes welcomed the raise. And so did scammers.
Scammers have latched onto the Social Security raise as it gives them more Moments of Opportunity to get our money or our personal information. Scammers will contact beneficiaries by telephone, email, or text. They will tell you that you need to apply to Social Security to get your raise. (Of course, this is NOT true and those receiving benefits got the raise with the January 2023 check.)
The scammer may pose as a Social Security representative or you may be directed to an “official” site where you can contact a representative to apply for your raise. However you are contacted, you will be asked for your name, address, and Social Security number so they can verify your identity. They may ask for your bank account information because your money will be directly deposited.
If you provide personal information, you are opening the door to scammers to steal your identity. If you offer banking information, they can access your bank account which puts your money at risk.
Know the following:
- The COLA (Cost of Living Adjustment) is automatic. You don’t need to apply or call Social Security or mail in an application or make any contact at all. Social Security adjusts your check amount.
- Social Security will not call you and ask for your information. (The Social Security Administration KNOWS your Social Security Number. They KNOW where you live.) Social Security will send you a letter if there is a problem. They will only call if you have requested a call or if you have ongoing business with them. If you get a call, email, or text from the Social Security Administration pay attention. It’s probably a scam. Don’t reply or hang up.
- Don’t give in to threats. The Social Security Administration will not threaten you with legal action or arrest. They will not threaten to withhold your benefits. They will not demand payment. If you think you have an issue with your Social Security benefit, call them at 1 800 MEDICARE or go to the website at www.Medicare.gov. Do not contact Social Security using a number that is shown on the suspicious email or text or given on a phone call.
Stay safe!
