The Social Security Administration recently announced a 2017 cost-of-living adjustment, or COLA, of 2%, meaning that Social Security recipients will receive this increase to their monthly benefit checks staring in December 2017. This is the highest COLA in six years and is welcome news for many American retirees.

However, it may not mean a heck of a lot in the end.  Why?

First, the COLA (low by historical standards) doesn’t actually track the cost of living for those over 65.  The government uses the CPI-W index, instead of 2017’s COLA may not be much of an increase after all.  Second., I appears likely that when the 2018 part B premium increases are released, it may eat up most, if not all, of your increase.