{"id":82552,"date":"2025-09-24T06:20:22","date_gmt":"2025-09-24T06:20:22","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/82552\/"},"modified":"2025-09-24T06:20:22","modified_gmt":"2025-09-24T06:20:22","slug":"social-security-benefits-increase-could-be-wiped-out-by-double-whammy-impact-in-georgia","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/82552\/","title":{"rendered":"Social Security benefits increase could be wiped out by double whammy. Impact in Georgia"},"content":{"rendered":"<p class=\"mb-4 text-lg md:leading-8 break-words\">The most anticipated day of the year is rapidly approaching for the more than 67 million beneficiaries who rely on <a href=\"https:\/\/www.yahoo.com\/news\/articles\/coastal-georgia-democracy-hosts-rally-193312023.html\" data-ylk=\"slk:Social Security;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\" rel=\"nofollow noopener\" target=\"_blank\">Social Security<\/a>.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">On Oct. 15, the Social Security Administration (SSA) will reveal what&#8217;s expected to be a flurry of changes to the program in <a href=\"https:\/\/www.yahoo.com\/news\/articles\/pushed-back-against-trump-2020-141750335.html\" data-ylk=\"slk:2026;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\" rel=\"nofollow noopener\" target=\"_blank\">2026<\/a>, including the most prominent of all \u2014 the cost-of-living adjustment (COLA). With most <a href=\"https:\/\/www.yahoo.com\/news\/articles\/where-georgians-moving-2025-u-184312509.html\" data-ylk=\"slk:retired;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\" rel=\"nofollow noopener\" target=\"_blank\">retired<\/a> workers reliant on their monthly check, in some capacity, to meet their expenses, knowing how much they&#8217;ll receive in the upcoming year is of paramount importance.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Social Security&#8217;s 2026 COLA could <a href=\"https:\/\/www.fool.com\/retirement\/2025\/09\/06\/2026-social-security-raise-is-set-for-a-trump-bump\/?utm_source=usa-today&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=02dcd335-de87-4db0-a4d0-bae60b92a78a\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:make history;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">make history<\/a> for the first time in nearly three decades, but signs point to most beneficiaries facing something of a <a href=\"https:\/\/www.fool.com\/retirement\/2025\/08\/02\/social-security-2026-cola-be-a-lose-lose-scenario\/?utm_source=usa-today&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=02dcd335-de87-4db0-a4d0-bae60b92a78a\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:double whammy next year;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">double whammy next year<\/a>. Here&#8217;s how <a href=\"https:\/\/www.yahoo.com\/news\/articles\/rivian-breaks-ground-electric-vehicle-154605193.html\" data-ylk=\"slk:Georgians;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\" rel=\"nofollow noopener\" target=\"_blank\">Georgians<\/a> on Social Security could be affected.<\/p>\n<p>How much do Georgians receive from Social Security COLA?<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Before we look at the forecasted COLA increase and how a 1-2 punch could wipe it out, let&#8217;s look at how many people in Georgia could be affected.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">According to the <a href=\"https:\/\/www.ssa.gov\/policy\/docs\/factsheets\/cong_stats\/2023\/ga.pdf\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:SSA website;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">SSA website<\/a>, Georgians who are beneficiaries received about $3.4 billion in total payments each month in 2023. Just under 2 million Georgians were beneficiaries of Social Security. That included:<\/p>\n<ul class=\"mb-4\">\n<li class=\"ml-4 list-disc\">\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Retired workers (1,451,725)<\/p>\n<\/li>\n<li class=\"ml-4 list-disc\">\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Disabled workers (243,954)<\/p>\n<\/li>\n<li class=\"ml-4 list-disc\">\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Widows, widowers, and parents (109,731)<\/p>\n<\/li>\n<li class=\"ml-4 list-disc\"\/>\n<li class=\"ml-4 list-disc\"\/><\/ul>\n<p>Does Georgia tax Social Security benefits?<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">The answer is <strong>no<\/strong>, according to the <a href=\"https:\/\/dor.georgia.gov\/retirees-faq\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Georgia Department of Revenue;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">Georgia Department of Revenue<\/a>. However, nine states do tax Social Security, according to <a href=\"https:\/\/www.kiplinger.com\/retirement\/social-security\/603803\/states-that-tax-social-security-benefits\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Kiplinger;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">Kiplinger<\/a>.<\/p>\n<p>What purpose does Social Security&#8217;s COLA serve?<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">The COLA is a tool at the SSA&#8217;s disposal that helps beneficiaries fight back against the effects of inflation.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Hypothetically, if the collective cost for a broad basket of goods and services regularly purchased by seniors were to rise by 3% from one year to the next, Social Security benefits would also need to increase by the same percentage to avoid a loss of buying power. Social Security&#8217;s cost-of-living adjustment is the &#8220;raise&#8221; beneficiaries receive in most years to help counteract the impact of inflation on their purchasing power.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Beginning in 1975, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) became the program&#8217;s inflationary yardstick, which allowed for annual COLAs to be passed along, if necessary. Before then, Congress arbitrarily passed benefits increases during infrequent special sessions. (For instance, there wasn&#8217;t a single benefit adjustment during the 1940s, which was followed by the largest-ever COLA of 77% in 1950.)<\/p>\n<p>On paper, Social Security&#8217;s 2026 cost-of-living adjustment should make history<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Based on multiple independent estimates, the 2026 COLA should make history by <a href=\"https:\/\/www.fool.com\/retirement\/2025\/06\/28\/social-security-2026-cola-do-something-not-seen\/?utm_source=usa-today&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=02dcd335-de87-4db0-a4d0-bae60b92a78a\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:reaching or surpassing 2.5% for a fifth consecutive year;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">reaching or surpassing 2.5% for a fifth consecutive year<\/a>. The last time beneficiaries received at least a 2.5% payout bump for a half-decade was a 10-year stretch from 1988 through 1997, during which COLAs varied between 2.6% and 5.4% on an annual basis.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Following the release of the August inflation report, nonpartisan senior advocacy group The Senior Citizens League (TSCL) held firm on its 2026 COLA forecast of 2.7%. Meanwhile, independent Social Security and Medicare policy analyst Mary Johnson upped her estimate by a tenth of a percent to 2.8%.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">If TSCL&#8217;s estimate proves accurate, the average retired-worker beneficiary would see their <a href=\"https:\/\/www.fool.com\/retirement\/2025\/08\/16\/social-security-2026-cola-no-win-scenario-retirees\/?utm_source=usa-today&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=02dcd335-de87-4db0-a4d0-bae60b92a78a\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:monthly payout climb by $54;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">monthly payout climb by $54<\/a> in 2026. As for workers with disabilities and survivor beneficiaries, the average benefit would increase by approximately $43 per month, respectively.<\/p>\n<p>Potential double whammy awaits many of Social Security&#8217;s 70 million beneficiaries in 2026<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Things look great on paper, but the practical application of Social Security&#8217;s 2026 COLA is a long way from perfect.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">The <strong>first problem<\/strong> that aged beneficiaries are going to run into is an expected loss of purchasing power. According to a TSCL analysis released last year, the buying power of a Social Security dollar fell 20% from 2010 to 2024.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">The CPI-W generally does a poor job of accounting for the expenses that matter most to seniors. It&#8217;s an inflationary index tasked with tracking the spending habits of &#8220;urban wage earners and clerical workers,&#8221; who in many instances are working-age Americans not currently receiving a Social Security benefit. These folks spend their money quite differently from the 87% of Social Security recipients who are 62 or older.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">The <strong>second part of the double whammy<\/strong> pertains to seniors dually enrolled in Social Security and traditional Medicare. Most of these dual enrollees have their Part B premium, which is the segment of Medicare responsible for outpatient services, automatically deducted from their monthly benefit.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">According to estimates in the Medicare Trustees Report, <a href=\"https:\/\/www.fool.com\/retirement\/2025\/07\/27\/social-security-2026-cola-missing-silver-lining\/?utm_source=usa-today&amp;utm_medium=feed&amp;utm_campaign=article&amp;referring_guid=02dcd335-de87-4db0-a4d0-bae60b92a78a\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:the Part B premium is expected to rise;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">the Part B premium is expected to rise<\/a> in 2026 to $206.20 per month (up more than 11%). This follows more modest increases of 5.9% in back-to-back years. Most aged beneficiaries will see some or all of their 2026 cost-of-living adjustment offset by this sizable jump in the Medicare Part B premium.<\/p>\n<p>How much will your Social Security benefit be? Use a Social Security COLA calculator<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Miguel Legoas is a Deep South Connect Team Reporter for Gannett\/USA Today. Find him on Instagram @miguelegoas and email at <a href=\"https:\/\/www.yahoo.com\/news\/articles\/mailto:mlegoas@gannett.com\" data-ylk=\"slk:mlegoas@gannett.com;elm:context_link;itc:0;sec:content-canvas\" class=\"link \" rel=\"nofollow noopener\" target=\"_blank\">mlegoas@gannett.com<\/a>.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">This article originally appeared on Savannah Morning News: <a href=\"https:\/\/www.savannahnow.com\/story\/news\/2025\/09\/23\/social-security-cola-could-be-wiped-out-in-2026-how-it-affects-georgia\/86307391007\/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Social Security COLA could be wiped out in 2026. How it affects Georgia;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">Social Security COLA could be wiped out in 2026. How it affects Georgia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The most anticipated day of the year is rapidly approaching for the more than 67 million beneficiaries who&hellip;\n","protected":false},"author":2,"featured_media":82553,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177],"tags":[19513,79,46603,6409,55113,18,19,17,234,235,1078,1069],"class_list":{"0":"post-82552","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-beneficiaries","9":"tag-business","10":"tag-cola","11":"tag-cost-of-living-adjustment","12":"tag-double-whammy","13":"tag-eire","14":"tag-ie","15":"tag-ireland","16":"tag-personal-finance","17":"tag-personalfinance","18":"tag-social-security","19":"tag-social-security-administration"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/82552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=82552"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/82552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/82553"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=82552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=82552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=82552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}