2020 COLA

The COLA looks to be 1.6% for 2020

For a person earning the current average benefit, that means an increase of $23.38 in monthly benefit.

The standard Part B premium is expected to increase $8.80 in 2020.

One comment

  1. Not only will the SS increase be tiny in 2020 [especially when the increase in Medicare B premium is subtracted]… according to Forbes and others who are now *projecting* 2020 IRS tax rates, while the standard deductions will increase next year… the extra over age 65 deductions [which have increased every year since I turned 65] will NOT be increased for inflation in 2020. I hope Forbes is wrong about that, but I doubt it. The official IRS rates should be announced later this month, so that is something to watch.

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