The 2019 COLA increase could be the biggest in years
As we wind down the 3rd quarter of the year, the subject of next year’s Cost of Living Adjustment (COLA) takes front and center stage. Year to year changes in the Consumer Price Index (specifically, the CPI-W) are what determines if there will be a COLA adjustment and how much it will be, and the CPI-W for the third quarter of each year (July – September) is the determining factor. As we near the end of the measurement period, Brittany De Lea of Fox Business News offers this forecast of a 2.8% COLA – the most in years – which could translate to an average $39 per month increase in benefits. And for particularly good news, the premium for Medicare Part B is expected to rise by only about $1.50, which means that you should actually see nearly all of your COLA increase. Click here to read the Fox Business News article about the 2019 COLA.
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