Social Security

Social Security Increase Not Enough for Families

Social Security Increase Not Enough for Families, The recently announced 3.2% Cost of Living Adjustment (COLA) for social security benefits in 2024 has left many families in Wiregrass dissatisfied.

Table of Contents

Struggles Amidst Low Increase

Janice Johnson expresses her disappointment, stating, “I felt like it was a slap in the face.” Despite the increase being above the annual average, it is the lowest since 2020. For many, including Janice and her husband Billy Johnson, the increment translates to a mere $12 additional monthly, prompting considerations of finding additional employment.

Challenges Amplified by Premium Hikes

The Center for Medicare and Medicaid Services (CMS) plans to increase its monthly premium by 6% in 2024. Additionally, groceries have witnessed a 6% inflation rise in 2023, according to the U.S. Department of Agriculture. The Burger family of Dothan, Christina and Jason, highlights that the 3.2% increase in benefits is quickly consumed by rising premiums, copays, and deductibles, leaving individuals with little tangible improvement.

Advocating for Change Amidst Growing Hardships

Both families emphasize the interconnectedness of various expenses, urging individuals to take a stand before the situation worsens. Jason Burger comments, “When you have premiums, copays, deductibles, and start adding those up, it’s almost as if you didn’t get anything.” Janice Johnson suggests collective action, saying, “I think we all need to stick together and do something.” She proposes potential actions like picketing the White House, highlighting the urgency to address the growing financial strain.

Historical Context

Comparatively, the 3.2% increase in COLA for 2024 pales in comparison to the significant increments of 5.9% and 8.7% in the preceding two years.

Conclusion

The dissatisfaction among Wiregrass families underscores the pressing need for a more substantial and equitable increase in social security benefits, given the rising costs of living. Without such adjustments, individuals and families face increasing challenges to meet their essential needs.