The 1.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2020. (Note: some people receive both Social Security and SSI benefits). The Social Security Act ties the annual COLA …
Tag: cost of living adjustment
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Dec 02 2019
Social Security Accounces COLA Increase for 2020!
Each year, the Social security Administration (SSA) announces the annual cost-of-living adjustment (COLA). By law, federal benefits increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Usually, there is an increase in the benefit amount people will receive each …
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Feb 05 2017
Most Changes Affecting Seniors Require Public Debate
While the United States has elected a new president and the Colorado legislature has started a new session, many seniors and their families are calling to ask how the changes may affect them. The short answer. We don’t know. The current efforts are to change federal programs either through the budget reconciliation process or through …
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Oct 30 2016
Medicare Monday Introduces 2017 Prices and Benefits
by Eileen Doherty Each year the federal government makes changes to the Medicare. Many beneficiaries are advised to go through the process of determining if they are satisfied with their current coverage with a Medicare Supplement, a Medicare Advantage Plan and/or prescription drug coverage. Those new to Medicare face an even more daunting task. The …
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