Your Social Security cost-of-living adjustment for 2022 may not go as far due to inflation and Medicare costs. These strategies can help

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Your Social Security cost-of-living adjustment for 2022 may not go as far due to inflation and Medicare costs. These strategies can help
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How to protect your 2022 Social Security cost-of-living adjustment from inflation, Medicare costs

The variety of Medicare Advantage plans available will vary depending on where you live, according to Johnson.

From year to year, the private insurers that run those plans may drop coverage for certain prescriptions completely, or they can change their coverage tiers, which could mean you will pay much more for the same drugs.The key is to read the fine print before signing up. This would affect you in the 2022 tax year, and come due in the 2023 tax season, Johnson said, which means there's time to plan ahead.

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