Latest News

2024 COLA vs. Medicare Premium Increase - Forbes

Pretty difficult for seniors to get ahead, with inflation hitting our pocketbooks hard and, for many, our Social Security checks being a major source of our retirement income. That’s why the annual COLA increase to our SS benefit is so important, even if it seems inadequate to cover the higher prices we already paying for groceries, at the gas pump, and pretty much everywhere else. Unfortunately, those aren’t the only things we’ll be paying more for in 2024 – Medicare’s Part B premium, which is usually deducted from our Social Security payment, is going up by 6% in 2024, from $164.90 to $174.70 per month. And that means that at least part of any Social Security COLA increase we get for 2024 will be used to pay the higher Part B premium. All the more reason, according to this Forbes article by David Kudla, to plan for your retirement early and save as much as possible offset inflation.

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or

What's Your Opinion?

We welcome your comments. Join the discussion and let your voice be heard. All fields are required

Website by Geiger Computers