Home > Term: Cost of living adjustment (COLA)
Cost of living adjustment (COLA)
This is an optional benefit. It goes with some long-term disability plans. It raises the monthly benefit amount each year. The person on disability gets more money based on the cost of living. These raises are given only for a set time period.
- Part of Speech: noun
- Industry/Domain: Health care
- Category: General
- Company: Aetna
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- Harry8L
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(London, United Kingdom)