Social Security Report

Social Security and the Annual COLA Adjustment

Social Security is adjusted annually according to COLA which is based off of the Consumer Price Index. It was recently announced that the Price Index did not see enough of an increase in the past year to constitute a raise in benefits for 2016. This caused a number of problems in conjunction with rising costs in Medicaid, which has prompted action from congress in the form of a bill that gives those affected temporary reprieve from the extra costs. This has given rise to questions on how affective and relevant the current system is in regards to regulating the automated benefit increases and has prompted discussion on how to better the process. For more information visit this article by Charles Blahous with Economics21.

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