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Social Security, Medicare, and COLA
Thanks to some inflation during the 3rd quarter of this year, beneficiaries of Social Security are slated to get a 2% bump in their Social Security benefit starting in January of 2018. Unfortunately, because of the way Social Security and Medicare interact, many recipients of both programs won’t see much, if any, of the cost of living adjustment. This Motley Fool article by Dan Caplinger explains how COLA is determined, how Social Security and Medicare interact with each other, and why that may mean a very small part of the COLA increase will actually be in your monthly Social Security check. Click here to read more.
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