Social Security’s COLA Conundrum: An Increase that Can Lower Benefits for Some
It doesn’t sound logical, but the cost-of-living adjustment going into effect on January 1 could result in lower benefits for some families living close to the poverty line. In fact, in addition to most beneficiaries not seeing the full 5.9% benefit boost due to Medicare Part B premium increases, some might see a correlating decrease in proceeds from programs like SNAP, Medicare Extra Help, and rental assistance if the COLA pushes them over the statutory limits. A marca.com post discusses the natter, with quotes from The Senior Citizens League’s Mary Johnson. Check it out here…
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