Instant Insights / Social Security: What's Happening? News, FAQs, Legislation and More

Stay up to date while navigating the crucial yet complicated world of Social Security.


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Medicare and 2020 over a picture of a neatly made bed (Includes Thinkstock 470798161 and the CMS logo) (Image: Allison Bell/ALM)

If The Senior Citizens League is correct in its forecasts — and it has a strong record of that — roughly half of the Social Security cost-of-living adjustment (COLA) for 2020 for the average retiree will be wiped out by the increase in Medicare Part B premiums that year.

Based on its analysis of the recent Medicare Trustees Report, the league expects that the Medicare Part B premium, which pays for outpatient medical services and supplies such as doctor visits and medical equipment, will increase $8.80 per month, or 6.5%. It’s forecasting a 1.2% COLA for Social Security, based on future projections of Consumer Price Index data available through March, which for the average beneficiary collecting $1,461 a month amounts to roughly $17.50.

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