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Beneficiaries are getting a big Social Security cost-of-living adjustment (COLA) as inflation hits new highs this year. The Senior Citizens League, a bipartisan advocacy group, estimates the COLA will reach 8.7 percent. Additional financial relief in the form of low Medicare Part B premiums will provide seniors with another cushion. The Social Security Administration is about to announce its largest annual cost-of-living adjustment (COLA) increase in 40 years. The hike, set to be announced on Thursday, is estimated at around 8.7 percent and will help those in the program meet rising costs driven by inflation. Between
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