Social Security recipients are looking forward to the largest cost of living adjustment in four decades in January. The tradeoff, however, is that they may need that added income to counter rising inflation. “COLAs are intended to protect the buying power of Social Security benefits but, according to consumer price data through July of 2021,…
In 2021, Social Security benefits increased by just 1.3 percent, raising the average benefit by only about $20. Social Security recipients can look forward to one of the largest cost-of-living adjustments in nearly 40 years in 2022. The Senior Citizens League predicts an increase of 6.2 percent based on consumer price index data from July. “The estimate is significant,…
You’ll need to plan ahead to pay for some common medical expenses. Medicare covers the majority of older Americans’ health care needs — from hospital care and doctor visits to lab tests and prescription drugs. Here are some needs that aren’t a part of the program — and how you might pay for them. 1….
