Social Security Cost of Living Adjustment: How Much More Money You'll Receive in 2027
· Telemundo McAllen (KTLM)
The Social Security Administration announced a 3.6% cost-of-living adjustment (COLA) for 2027, translating to an additional $75 per month for retirees. This increase aims to help beneficiaries cope with rising costs of food, fuel, and services. However, some seniors, like 71-year-old Lorrie Ufkin, argue that the COLA is insufficient to cover increasing healthcare expenses, particularly with upcoming Medicare premium hikes. The maximum benefit for retirees will rise to $4,188 monthly, while the average benefit will be $2,107. Notifications about the new benefits will start in early December, with adjusted payments beginning on December 31 for 7.5 million Supplemental Security Income recipients.
AI summary · Source: Telemundo McAllen (KTLM) →
