The Social Security Administration recently announced that Social Security recipients will receive an annual cost-of-living adjustment of 3.2% for 2024 (“Social Security benefits will increase by 3.2% in 2024,” Star-Advertiser, Oct. 12).

That means that the average Social Security recipient will receive $59 per month more in 2024. However, Medicare premiums, which are taken out of Social Security payments, will increase by $9.80 per month to $174.70, an increase of 6%. In addition, the annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023 — another 6% increase. The government giveth and the government taketh away.

An increase of 3.2% just isn’t what it used to be. The inflation rate may be declining, but actual prices continue to ratchet higher and higher. We pay based on the price of goods and services, not the rate of inflation.

Hawaii has the highest cost-of-living in the country and people here feel the pain more than in any other part of the country.

Bert Oshiro

Hawaii Kai

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