NEW YORK — Tens of millions of older Americans will see a modest increase in benefits this January when a new cost-of-living adjustment is added to Social Security payments. The 3.2% raise is intended to help meet higher prices for food, fuel, and other goods and services. The average recipient will see an increase of about $54 per month, according to government estimates. That’s a smaller percentage than last year, because consumer prices have eased, and the COLA is tied to the Bureau of Labor Statistics Consumer Price Index. Still, Kathleen Romig, director of Social Security and Disability Policy at the Center on Budget and Policy Priorities, says increased Medicare premiums will “absorb
Hence then, the article about social security s cost of living adjustment what to know was published today ( ) and is available onTOP world News today ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Social Security’s Cost-of-Living Adjustment: What to Know )