As we’ve covered, the 2024 Social Security cost-of-living adjustment (COLA) was announced as 3.2 percent. This equates to about a $50 monthly increase.

However, something else is going up — Medicare Part B premiums and deductibles. This increase is based off the projected increase in healthcare costs.

Could this wipe out the benefit boost seniors earned before they even get to enjoy it? Is it fair that their retirement benefit, which should support a fulfilling life full of fun, could go to this rising expense?

We want to know your thoughts. Will you be impacted by the Medicare cost increase? How does it impact your budget? Will your COLA cover it? Let us know, then follow us on Facebook and Twitter.