Will seniors get shortchanged next year? - The Motley Fool
The enormous economic impact of COVID-19 is currently being felt across all of American society and it will continue into 2021 especially for seniors. How? As we look at the impact this pandemic has had on the steep decline in oil prices, and although we recognize that gas prices are only one component of the CPI-W, we understand that they are a commonly strong indicator of whether changes to the index will support a COLA increase. Of course, since CPI-W data used to determine COLAs is gathered from July, August, and September, even if prices begin to climb in the coming months, seniors may manage to eke out a raise after all, but given the state of the economy, it’s unlikely. So where does all this leave seniors? In Maurie Backman’s article for the Motley Fool, she takes a look at the possibility of a COLA increase for 2021, and what it could mean to seniors now. Read Ms. Backman’s article here…