Reported about 24 hours ago
The Social Security Administration has announced a 2.8% cost-of-living adjustment for 2026, which will equate to an average increase of $56 per month for approximately 75 million retirees and disabled workers. While this adjustment is slightly higher than the previous year's 2.5%, many critics argue that the current formula for calculating the COLA does not accurately reflect the true expenses faced by seniors, particularly in areas like healthcare and housing. Moreover, rising Medicare premiums are expected to consume a significant portion of this increase.
Source: YAHOO