Social Security benefits to rise

WASHINGTON -- Social Security benefits will increase 2.1 percent next year, providing the typical retiree with an extra $19 a month, the government announced yesterday.

The average monthly benefit for retirees will rise from $903 to $922; the average couple's monthly check will go from $1,492 to $1,523. The maximum monthly benefit for disabled workers will increase from $844 to $862.

The cost-of-living adjustment, or COLA, announced by the Social Security Administration reflects the nation's low inflation rate. Still, the increase for 2004 is higher than the 1.4 percent increase provided this year.

Most older Americans will not pocket all of the Social Security increase, however. The increase in Medicare Part B premiums, which cover physician services and outpatient hospital care, will rise by $7.90 a month, to $66.60.

Meanwhile, House and Senate leaders working on a Medicare prescription drug bill moved closer to consensus Wednesday night on requiring higher-income seniors to pay more than other beneficiaries for coverage.

Information from the Associated Press was included in this report.