Based on the CPI- W just released for June by the BLS, the 2022 Social Security COLA may be as high as 5.1%.
The inflation rates for July, August and a September will determine the actual COLA for next year
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“2022 COLA Data Shooting Higher: 6.1% Annual Inflation
The projected COLA increase for 2022 keeps going up. The latest inflation figures show inflation increasing and projected 6.1% COLA for 2022”
https://www.fedsmith.com/2021/07/13/2022-cola-data-shooting-higher/
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The average for July, August, September over the previous years average is all that matters. The CPI-W for those months all have to be higher than June for it to be above 5.1%. Possible, but we just have to wait and see. On the other hand, that kind of inflation means we are paying quite a bit more for lots of things, so we may not be getting anywhere.
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With that being projected, what will be the cost for Medicare premiums?
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Don’t know for sure yet, but definitely higher than they are now.
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I looked at the assumptions from 2020 and my guess is it could easily be $160 unless they fudge the number again.
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