Social Security Raise May Hit 3.7%, But Costs Loom

Social Security recipients could see a 3.7% cost-of-living adjustment next year, but rising medical expenses threaten to offset the gains. The potential increase would provide modest relief for millions of seniors already struggling with inflation. However, Medicare premiums and out-of-pocket healthcare costs are climbing faster than the benefit boost. Experts warn that seniors may end up with less purchasing power despite the nominal raise.