Don’t celebrate your COLA increase just yet
With all of the publicity over the largest COLA increase in years, many Social Security recipients might be celebrating. But even though the average beneficiary would receive about $27 per month more in benefits, they may be surprised to find that the net amount of their payment stays exactly the same due to their increase being applied to their Medicare Part B premium. This Motley Fool article by Sean Williams laments that while the average Social Security benefit will be going up in 2018, many won’t see much or any of that money. Click here to read more.