Latest News
COLA increases don’t keep up with seniors’ rising expenses
On the surface, the concept is pretty simple: Measure inflation and increase Social Security benefits to match. But unfortunately the Government measure for inflation doesn’t exactly match up with seniors’ spending habits, with a consequence that COLA increases don’t compare to the actual inflation seniors live with. Senior healthcare costs, for example, are considerably higher than the standard weighting in the healthcare category of the Consumer Price Index (CPI), the index used by the Government to measure inflation. This Motley Fool article by Wendy Connick explains why the Social Security COLA is so low. Click here to read more.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.