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A “real” raise is in the works for most Social Security recipients in 2019
The cost of living adjustment (COLA) that will take effect in January 2019 will be announced this month for Social Security recipients. Educated guesses by mthose who follow the issue pegs the increase at 2.7%, which is about $38 a month more for the average recipient. More recipients will actually realize most or this full gain, assuming they are caught up with their Medicare premiums. Many Social Security recipients saw no actual increase in their monthly checks in the past two years because Medicare premiums increased at a greater rate. As Dan Caplinger explains in his article, the “hold harmless” provision prevented decreases in monthly benefit checks when Medicare premium increases outpaced Social Security increases. Read full article here.