Why Your 2020 Social Security Raise Won't Be As Big As You Think
Social Security beneficiaries are getting a raise in 2020. The raise comes courtesy of cost-of-living adjustments, or COLAs. These adjustments are based on changes to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is the metric used to determine if expenses are rising.
While it's good news for seniors that benefits are going up -- as annual raises aren't guaranteed to occur -- unfortunately, the raise Social Security recipients will receive isn't going to be as big as it seems at first glance. That's because the value of the raise will be offset by rising premiums for Medicare.
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Source Fool.com
