Will a Medicare Part B Premium Hike Wipe Out Your 2024 Social Security COLA?
We're getting really close to finding out what cost-of-living adjustment, or COLA, seniors on Social Security will be getting in 2024. The reason that raise hasn't been officially announced yet is that it's based on third quarter inflation data.
While we've wrapped up the third quarter of the year, a 2024 COLA can't be calculated until data on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) arrives for September. And that information won't be released until Oct. 12.
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Source Fool.com
