A new American Retiree article, “Social Security Beneficiaries Get No COLA Increase in 2016” spotlights how almost 65 million Americans will not receive a cost-of-living adjustments for the third time in the last six years.
The article discusses how Social Security beneficiaries received increases for 35 years from 1975 until hitting the wall in 2010 when the rate remained flate for two years.
Without a COLA, those with Medicare Part B will continue to pay $104.90 per month despite no increases. Many of those who are on other Medicare programs will pay premiums of $121.80 per month, or a 16% increase, in 2016.
A recent survey by the Seniors Citizens League shows that Social Security fails to match rising household budgets. According to the survey, this deficit affects up to 31 million Americans aged 65 and older and the number is expected to increase in the coming years.
Read more about the No COLA increase for social security beneficiaries here: http://www.americanretiree.com/social-security-beneficiaries-get-no-cola-increase-in-2016
American Retiree offers news and advice to seniors and Baby Boomers across the country, providing retirees with the essential resources and information they need during the Golden Years. Learn more at www.AmericanRetiree.com.
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