Skip to content

Your Social Security COLA for 2022 may not go as far due to inflation and Medicare costs

November 30, 2021

From the CNBC website

Despite the biggest cost-of-living adjustment in decades, Social Security beneficiaries may still find it challenging to make their monthly checks stretch farther next year.

The reasons: Inflation is continuing to drive up consumer prices, while standard Medicare Part B premiums will rise by 14.5% in 2022 in a bigger-than-expected jump.

The Consumer Price Index, a government measure for the change in prices over time, climbed 6.2% year-over-year in October, marking the biggest inflation increase in 30 years.

Learn more

From → Finance

Comments are closed.