Social Security's 2027 COLA Could Well Outpace This Year's Raise. Here's How Helpful It Might Actually Be.
A larger raise may not end up being such a win.
Overview
When a 2.8% Social Security cost-of-living adjustment (COLA) hit retirees' paychecks this past January, many recipients were underwhelmed. And that's understandable.
While a 2.8% COLA isn't stingy in its own right, that boost came at a time when the cost of Medicare Part B rose $17.90 per month compared to the previous year. Seniors who are enrolled in Social Security and Medicare pay for Part B out of their benefits. So when there's a large increase in premiums costs, those COLAs get whittled down.
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Source
Originally published at www.fool.com.
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