Social security beneficiaries will be getting an increase in benefits next year, but for many retirees, it won't balance out other cost increases.

The 2019 increase is the largest increase for retirees since 2012.

"That is exciting, you know every little bit helps," said Chanda Crutcher, the Executive Director of the Legacy Center, a group that works to enhance the lives of older adults. "But I think the reality is that for many that is just a drop in the bucket when it comes to the need for health care costs and options that are out there."

More than 67 million Americans who receive social security are going to see the largest increase in their benefits in seven years. Retirees will see their checks grow by 2.8 percent in January. That's an additional thirty-nine dollars a month. This adjustment is based on changes in consumer prices.

Crutcher said the increase in next year's benefits won't balance out other increases in next years charges.

"There's gonna also be an increase in Part B premiums. So this $39 increase in social security may not fully cover the increase in Part B premiums," she said.

The increase amounts to about $468 annually, which could help some who are already stretching the benefits.

"The average social security income is just over a thousand dollars. When you look at food costs and medication costs and health care costs, that can be a very crippling number. So I think it's one we have to pay attention to as a community," Crutcher said.

She recommends that social security beneficiaries use online tools from AARP or Medicare to help understand how to make the increase work best. The increase is a cost-of-living adjustment. It affects Americans who receive social security, disabled veterans, and federal retirees.