Social Security COLA
Expect a very low Social Security cost of living adjustment in 2020
Social Security’s cost-of-living adjustment (COLA) will be announced in mid-October, but projections are for only a 1.6% COLA for 2020, down from 2.8% in 2019. A 1.6% adjustment would equate to an added $23 per month for someone receiving the average retirement benefit of $1,460. COLAs have…
Health Insurance Costs and the Social Security COLA…Some Thoughts
In a post on kernvalleysun.com, licensed insurance broker Harry P. Thal, MA offers commentary on how Social Security’s annual cost-of-living adjustment (COLA) is calculated and the relationship between this COLA and the premium payments beneficiaries need to absord for Medicare coverage. His remarks also…