Tag Archives: GasPrices

How Are Gas Prices Affecting Your SSDI?

Every year sees a cost of living adjustment (COLA) for the millions of beneficiaries who are a part of the Social Security system. This is thanks to a law passed in 1975 that automatically increases Social Security benefits based on the cost of medical care and the amount of inflation over the course of a year. Since it was voted into law, the COLA has been zero only two times—2010 and 2011—but that will change in 2016. How Are Gas Prices Affecting Your SSDI? For the third time since automatic increases were instituted, Social Security will have no cost of living adjustment. Researchers say that low gas prices have actually kept inflation low in 2015, which has made an adjustment unnecessary, but these low inflation rates are affecting Social Security beneficiaries in more ways than one. What Are The Other Ways Low Inflation Affects Your Social Security Benefits? Many people…
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