2021 COLA Outlook is Dismal
Although the real numbers won’t be known until after the month of October is over, the current outlook for next year’s Cost of Living Adjustment (COLA) isn’t encouraging, and that means America’s senior citizens will probably fall further behind. Now projected at a dismal 1.3%, COLA next year will, on average, mean only $19 added to the average person’s gross Social Security benefit. And with Medicare’s Part B premium expected to increase by $8.70, that means a scant Social Security benefit increase for beneficiaries. All of this is discussed in this MarketWatch article by columnist Paul Brandus. Click here to read more.
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