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Social Security Cost-of-Living-Adjustment

Written by QuoteMyMedicare

2021 Social Security Cost-of-Living-Adjustment

Up-Date: Social Security Cost-of-Living-Adjustment

Unfortunately estimates are projecting only a 1.3% annual (COLA) for 2021. If this is approved, it will be the smallest in about 3 years.

In 2017 the COLA was only 0.3%, but since there have been higher annual increases.

Medicare Premium 2021

Unfortunately, if/when Medicare increases premiums for Part B in 2021, that could actually outpace the increase for the COLA.

Nearly 3/4 of Medicare beneficiaries are protected by the Hold Harmless law, which adjust Part B premiums in order to prevent a reduction to the net Social Security Benefit.

As of 2020, single-taxpayer beneficiaries on Social Security with an adjusted gross income, or MAGI, of $87,000 fall under the Hold Harmless law, while married joint filers with $174,000 fall under the law. The MAGI is based on 2018.

We will publish up-dates as more information comes in.

About Quote My Medicare
About Quote My Medicare

We work with individuals across the nation to secure the best Medicare Supplement rates.  We educate and inform so you will be equipped to make smart Medicare choices.  I hope we have the opportunity to assist you with your Medicare.

-Randy Wolfe
Founder & Owner

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