Situations with multiple competing talkers are especially challenging for listeners with hearing impairment. These "cocktail party" situations can either be static (fixed target talker) or dynamic (changing target talker). Relative to static situations, dynamic listening is typically associated with increased cognitive load and decreased speech recognition ("costs"). This study addressed the role of hearing impairment and cognition in two groups of older listeners with and without hearing loss. In most of the dynamic situations, the costs did not differ between the listener groups. There was no clear evidence that overall costs show an association with the individuals' cognitive abilities.