Florida Elder Law & Estate Planning Blog


Social Security Announces 2025 COLA
October 13, 2024

The Social Security Cost of Living Adjustment (COLA) for 2025 will be 2.5%. The modest increase was expected: COLA is tied to third-quarter inflation, which has cooled. Starting in early December, beneficiaries will receive statements from the Social Security Administration…

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Social Security COLA Predictions For 2025
May 18, 2024

The Senior Citizens League is predicting that Social Security beneficiaries will receive a 2.6% Cost of Living Adjustment in 2025. Last year’s COLA was 3.2%. The year before, 2022, it was 8.7%. The lower projection for the coming year reflects…

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Social Security Not Taxed If New Bill Passes
February 11, 2024

The April 15 income tax deadline approaches. If you are a Social Security recipient who has additional sources of income, you will pay federal income tax on a portion of your Social Security benefits. Of the 66 million Americans who…

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Social Security, Medicare Changes Coming In 2024
October 14, 2023

On October 12, the final numbers were released for  2024. Here they are: Social Security Cost of Living Adjustment (COLA) Social Security beneficiaries will receive a 3.2% raise in 2024. This translates to an additional $59 per month for the…

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Social Security COLA Projections For 2024
May 16, 2023

Inflation appears to be losing steam. The Bureau of Labor Statistics reports that the inflation rate was 4.9% in April 2023, the smallest increase since April 2021 and the first increase below 5% in two years. This trend is good…

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2023 Social Security COLA Likely To Increase Dramatically (But Still Not Enough)
July 16, 2022

Seniors, like everyone, are feeling the pinch. Inflation is rampant, with higher prices spurred on by a multitude of factors including Covid, the Ukraine conflict, supply chain bottlenecks, and probably a good amount of profiteering, too. And it’s not just…

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Your 2022 Social Security COLA: What To Expect
October 27, 2021

It’s official: The 2022 Social Security Cost of Living Adjustment (COLA) will be 5.9%. COLA is based on the rate of inflation, and next year’s increase is the largest in 40 years. It reflects the higher prices consumers have been…

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Social Security COLA Looks Substantial, For A Change
July 28, 2021

With inflation on the rise, it looks like retirees are going to get a hefty Social Security Cost of Living Adjustment in 2022. The latest consumer price data would put the increase at 6.1%. This follows many years of paltry…

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Your Power of Attorney Is Not Enough for Medicare, Social Security
February 28, 2021

You may be surprised to learn that Medicare and Social Security will not automatically honor your Durable Power of Attorney or Health Care Surrogate. These are powerful legal documents that everyone should have in their planning toolkit, but when it…

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Social Security Announces 2021 Cost of Living Adjustment
October 14, 2020

The Social Security annual cost-of-living adjustment (COLA) for 2021 has been announced: 1.3%. This is among the smallest increases ever, and the smallest since 2017. According to the Social Security Administration, the 1.3% increase will translate to an additional $20 for…

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