COLA is the Cost-of-Living Adjustment to the social security monthly benefits, an annual adjustment to account for the changes in the cost of living.
The Senior Citizens League estimates that beneficiaries may receive $159 extra per month by 2023
Social Security Payments could be boosted by 9.3% to 10.1% due to the Annual Cost of Living Adjustment (COLA).
14.5% hike in Medicare Part B premiums due to the plan’s coverage of The Alzheimer’s drug Aduhelm
The shortfall of $58 to the annual benefits of $1656 is still a concern among retirees.
After the September inflation data is released, the Social Security Administration will announce the COLA for 2023 on October 13, according to Mary Johnson