Nancy Altman, president of Social Security Works, said the COLA increase is not enough after years of no or minuscule increases. “For many beneficiaries, even this small adjustment will be wiped out by increases in Medicare premiums and other health-care costs,” she said. “It’s long past time for Congress to update the formula used to calculate the yearly COLAs so that it reflects the costs that seniors and Americans with disabilities face every day.”

Read more at the Washington Post