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It Doesn’t Solve the Problem

Posted on 10/17/2007 by |Archived Contributer | Comments

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As Ray mentioned below, AP is reporting that the Social Security Cost of Living Adjustment (COLA) is 2.3 percent for next year. While an increase is important to help people keep up on the cost of basics, this is not enough to keep up with the ever expanding cost of health care. Medicare premiums are going up 3.1 percent next year, so where are folks on a fixed income supposed to find the other one percent? If you’re still working, this might not be a big deal. But for someone on a fixed income, it can’t be easy.