Op-ed: 

A 2.8% COLA Is Simply Not Enough 

By: Diane Sori / The Patriot Factor

The article posted here is the authors opinion alone, and does not necessarily represent the views of blogspot.com or Google     

 

....Now add in the fact that the value of the U.S. dollar against major foreign currencies dropped about 11% in the first half of this year...the biggest decline in more than 50 years...which now has some economists saying that the U.S. dollar could well lose, despite this past July's recovery of 3.2%, yet another 10% by the end of 2026. And if that be the case, the 2.8% COLA increase Social Security beneficiaries will soon be receiving will basically be negated as it does little to nothing to address the still rising grocery prices or the previous stated fact that Medicare has raised its Part B monthly premiums across the board, and they can do so again next year.

And here is where a major portion of the problem arises because Medicare can and does raise its premiums no matter that a COLA is in effect, And while what's known as a “hold harmless” rule does protect most Medicare beneficiaries by ensuring the premium hike does not reduce their net Social Security check below the previous year's amount, that in no way negates the fact that ones COLA might still be negated by the now higher Medicare monthly premiums,thus meaning monies available for groceries, etc., might still come up short...Read entire article here.