2024 Social Security COLA: Implications for Recipients and Medicare Premiums
TL;DR Summary
On October 12, the Bureau of Labor Statistics will release September's Consumer Price Index (CPI), which will allow the Social Security Administration (SSA) to calculate the cost-of-living adjustment (COLA) for 2024. While the 2023 COLA was 8.7%, estimates for 2024 range from 3% to 3.5%. Seniors should also be aware that a potential increase in Medicare Part B premiums could reduce the impact of the COLA. The SSA will also release a fact sheet on other changes to the program on October 12.
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- When will the Social Security COLA for 2024 be announced? AS USA
- Will a Medicare Part B Premium Hike Wipe Out Your 2024 Social Security COLA? The Motley Fool
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