Folks collecting Social Security will receive the largest Cost of Living Adjustment in decades. 

That’s Public Affairs Specialist Jack Meyers. Most of the time, you will see a COLA increase of 8.7 percent at the start of the new year. This year, you will receive an increase December 30th. 

Meyers says that this increase is based off Consumer Price Index data. 

Medicare recipients often groan at a COLA increase, because that sometimes means rates are going up. Meyers says that’s not the case this year. 

Learn more at ssa.gov. Meyers appeared as a guest on the WTIM Morning Show.