This Medicare Change Will Help Social Security Recipients Get More Out of Their 2023 Raise
For months on end, seniors on Social Security have been sitting on the edge of their seats waiting for news on next year's cost-of-living adjustment (COLA). With living costs soaring across the board due to inflation, many seniors -- especially those who get most of their income from Social Security -- are desperate for relief. And they're hoping an exceptionally large COLA will come through for them in the new year.
Now earlier on in 2023, some experts were calling for an upcoming Social Security COLA as high as 11%. At this point, that doesn't seem likely. Rather, it's more likely that seniors will see their benefits go up somewhere in the ballpark of 9% (and even that figure could change if September's inflation levels come in lower than expected).
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Source Fool.com
