Social Security beneficiaries will soon see a big increase in their 2023 payments thanks to a record-high cost of living adjustment (COLA) — one that increases amounts paid out by 8.7%, starting with ...
Social Security benefits lost buying power last year because the 2022 cost-of-living adjustment (COLA) underestimated inflation. Social Security benefits got a massive 8.7% COLA in 2023, and inflation ...
Quick Read The 2.8% COLA is significantly smaller than the 8.7% in 2023 and 5.9% in 2022. Medicare premiums rising from $185 ...
Social Security's cost-of-living adjustment in 2022 failed to offset the impact of inflation, causing benefits to lose purchasing power. The COLA in 2023 may overestimate inflation's effect, restoring ...
The fiercest inflation in four decades tore through the U.S. economy in 2022, and the rising cost of gas, groceries, and monthly utilities put many Americans in a difficult financial position. But ...