Social Security Update

posted Oct 16, 2017, 8:31 AM by Senior Monongalians
Social Security announced today that there will be a 2% Cost of Living Adjustment (COLA) for those receiving Social Security benefits for 2018.  Because there is a COLA increase, this means that the Part B premium may not be subject to hold harmless and beneficiaries could see an increase in their Part B premium.  Please keep in mind that we do not know yet what the Part B premium will be for 2018, so if there is an increase in the Part B premium, many beneficiaries may not see part or all of their COLA increase.  As more information is released about 2018 Medicare costs, I will make sure to share that information.  For more information about the COLA increase for 2018, please see the press release here: https://www.ssa.gov/news/press/releases/#/post/10-2017-1
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