October 14, 2021
  • The Social Security Administration announced that Social Security recipients will get a 5.9 percent boost in benefits next year. The highest cost-of-living adjustment eclipses last year’s 1.3 percent increase and would be the highest since July 1982, according to the SSA, before benefits began being calculated in December the following year. The pay bump applies to both the roughly 64 million Social Security retiree and disability beneficiaries and 8 million Supplemental Security Income recipients, which include lower-income adults, children, and individuals with disabilities. (Announcement here; Article here)
  • UnitedHealth Group Inc.’s insurance and pharmacy benefit management businesses generated a profit of $4.09 billion, easily surpassing the $3.17 billion it earned last year. UnitedHealth Group is typically the first insurer to report quarterly earnings, and its results signal that the industry may be rebounding after the COVID-19 delta variant complicated the country’s recovery from the pandemic this summer. (Press release here; Articles here and here)