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2020 Medicare premium hike could wipe out Social Security COLA for many retirees

The Senior Citizens League is forecasting a 6.5% jump in the 2020 Medicare Part B premium.

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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.

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