The 3.2% cost of living adjustment reflects another year of high inflation. However, we now know we’ll be paying almost 6% more for Medicare Part B! That doesn’t mean you’ll see a smaller SS check in January, but if you’re wondering how this will affect you, Peter with Richon Planning and Erin Kennedy walk through these questions:
- Does the COLA affect when we should claim our Social Security benefits?
- How does this jump in the cost of Medicare Part B affect my Social Security check?
- Does this COLA increase affect the program’s insolvency?
