This January over 70 million social security recipients will benefit from a 5.9% raise for their cost of living adjustment.
On average a recipient will get $92 more dollars a month.
The issue is that inflation is expected to keep going up. So are Medicare premiums.
While that $92 dollars a month will help in the long run, it’s hard to know just yet whether it’s enough to keep up with the rising Medicare and inflation costs.
[call-to-action
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].