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No COLA Next Year as Gas Prices Drive Low Inflation
Washington AP reports that for just the third time in 40 years millions of Social Security recipients and federal retirees will see no cost of living adjustment next year due to subdued inflation driven by lower gas prices. The COLA affects over 70 million people, with average benefits around 1224 dollars monthly, and could raise Medicare Part B premiums for about 30 percent of beneficiaries. Senate Democrats seek to freeze premiums for 2016 amid uncertainty.
MENTIONED IN THIS ARTICLE
Washington
Polina Vlasenko
American Institute For Economic Research
Congress
COSA
Carol Mead
Montrose
Pennsylvania
Mium
Tricia Neuman
Kaiser Family Foundation
Senate
Democrats
White House
Katie Hill