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About 70% of beneficiaries may not see the COLA increase
There was a certain amount of fanfare surrounding the recent announcement by the Social Security Administration that recipients would be getting a 2% raise starting in 2018. But for those who have their Medicare premium deducted from their Social Security check – about 70% of all Social Security beneficiaries – that raise, which on average will be about $27 a month, may be applied to their Medicare Part B premium amount leaving them with little or no actual net increase in their benefit check. This Sean Williams article appearing at madison.com explains that the 2% COLA may not actually reach a lot of those who depend on Social Security to pay their bills. Click here to read more.