Tag Archives: COLA

The Cost of Living Adjustment Is Going Up, But by How Much?

Every year, the amount of benefits that the Social Security Administration (SSA) gives out is adjusted to account for inflation and the price of living expenses. This Cost of Living Adjustment (COLA) adds to the benefits most SSDI recipients get, but for the past eight years that amount has been just barely over 1 percent. Now it looks like benefits recipients could be receiving more in 2018, but will this COLA be enough to handle the increase in living costs? Will the Cost of Living Adjustment Be Enough? Many factors have conspired to stagnate the COLA over the past few years. This year, the adjustment was less than half of a percent point, and 2016 saw no COLA increase. This all changes in 2018. According to the SSA, the COLA will increase to 2 percent in 2018. This is the largest adjustment increase since 2012, and it may be due…
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Will There Be A Cost Of Living Adjustment for 2017?

Every year, lawmakers look at prices for certain goods and services to determine the country’s inflation. They then use these numbers to determine if the recipients of Social Security should get an increase in their benefits checks. This is called the cost of living adjustment, but Social Security recipients didn’t receive an adjustment this year. Will 2017 be any different? Will There Be A Cost Of Living Adjustment In 2017? This year, officials said that the dollar didn’t suffer much if any inflation. So lawmakers avoided raising the amount of benefits received by Social Security recipients. This was bad news for the elderly and people with disabilities. Though inflation seemed to stay steady, the actual cost of living did not. Food, rent, and transportation costs are still a major concern for many people with disabilities, especially here in Oklahoma. The state’s assistance services have been slashed due to partisan politics…
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