COLA: Not Great
In October, we knew the 2026 Cost of Living Adjustment would be 2.8% for standard Part B premiums, so what was $185 will now cost us $202.90 per month. I received a letter informing me that my Medicare supplemental policy will increase from $257.90 to $309.46 monthly for 2026. How long is it reasonable for many of us to pay over $500 a month for healthcare without prescriptions being added?
A woman with Medicaid looked in surprise at my annoyance with increases. Another woman commented that people think we have it made getting COLA increases. Half of us live on the underside of the average Social Security checks; many far under $23,000 per year. How does the government justify our small increases in COLA? With increased costs of Medicare and supplemental health insurance, there is little room for all the other increases. Which of groceries, rent, prescriptions, gasoline and automobile insurance and maintenance, clothing, utilities, laundry and other life necessities and a few fun things do we forfeit to live under this system?
It is great having Medicare, but an ongoing expense for us and our private for-profit healthcare system is not helping to keep expenses reasonable. One pays up front for healthcare, pays copays along the way or has a health plan that “does not pay anything,” according to a woman who has had a bad Medicare Advantage plan for several years. A man told me he jumped into Medicare Advantage years ago, and he is shaking his head over his misstep of getting into the plan. Bottom line is that maintaining our necessary healthcare coverage is too expensive.