2025 Social Security COLA [payment dates] increase announced...predicts will be between 2.73% and 3.2%

DevX ^ | October 9, 2024 | Rashan Dixon

[daniel1212]

The Social Security Administration (SSA) has officially announced the payment dates for the upcoming cost of living adjustment (COLA) increase in benefits. Beneficiaries will soon learn the exact percentage of the COLA, which the Senior Citizens League (TSCL) predicts will be between 2.73% and 3.2%. The Bureau of Labor Statistics analyzes inflation data annually to determine the necessary increase to ensure Americans can maintain their purchasing power...

Analysts anticipate a decrease in the COLA for Social Security benefits in 2025 compared to previous years due to easing inflation. The SSA will announce the 2025 increase on October 10, with the nonprofit Senior Citizens League currently estimating a 2.5% increase, down from their earlier prediction of 3.2% in May. If the 2.5% increase is confirmed, it would be the most modest since 2021, resulting in an average increase of $48 in beneficiaries’ monthly income.

[daniel1212]

But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you. ()

[CatOwner]

Between real inflation and the expected spike in Medicare Part B premiums and Part D deductibles, seniors will definitely be going backwards.

[CFW]

“Between real inflation and the expected spike in Medicare Part B premiums and Part D deductibles, seniors will definitely be going backwards.”

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Yep. That’s the part that the media and Dems are trying to keep quiet. The insurance guy that helps us with my hubby’s Medicare Advantage enrollment each year has already notified us that there is going to be big changes with less coverage & fewer options that are all more expensive than what hubby has now.

[Jeff Chandler]

We got our money’s worth this year.

[Abathar]

Just wait until their homeowners insurance gets renewed now, watch that little bit get swallowed like a sparrow fart in a tornado.

[bwest]

And the practical relevance to Social Security is…

[Sacajaweau]

Part B is going up $10/mo

[CatOwner]

That’s probably the base cost to Part B. Part B supplemental insurance will have larger increases.

[lightman]

A low SSI increase will not be good news for the Harris/Biden administration.

They’ll try to spin “See, we’ve whipped inflation” but that won’t go over well.

[MNnice]

I dropped my Medicare Advantage plan and signed up with the VA. Saved $250 a month.

[Sacajaweau]

Part B is $175 now. It will go to $185. It gets taken right out of your SS clerk. Don’t know what you’re referring to...

[DeplorablePaul]

Yea. I got a knee replacement. The hospital and DR charged 50k. I bet they only got 5k from insurance it cost me 365

[CatOwner]

Part B supplemental insurance. Anyone without it is a fool.

[BipolarBob]

I’m thinking of dropping house insurance. Life’s a gamble.

[cp124]

Only down about 17% now.

[faithhopecharity]

such a fake system

“giving” cost of living raises at about one-fifth or one-sixth the actual increase in cost of living

this is, however, not limited to USA
it happened in the Soviet Union, too, as their retirees, many of them, wound up having to beg in the streets

same or similar lies and fake statistics
RIPOFF!

[wardamneagle]

That won’t even cover your supplemental insurance increase

[Mastador1]

We got our money’s worth this year.

Said what? I don't know about you but my COLA for this year in no way covered the increases in food, rent, gas, maintenance and repairs, etc. etc. etc.

[ichabod1]

i never got a cola at all when i was working. maybe 2 or 3 times in 45 years.

[NeverTyranny]

What a joke. They just want to get rid of us all.