Summary
Seniors receiving Social Security benefits will get a 2.8% increase in their payments in 2026 due to a cost-of-living adjustment. This adjustment is intended to help offset inflation, but higher Medicare costs will reduce the net benefit increase many seniors see.
Key Facts
- Social Security benefits will increase by 2.8% in 2026.
- Around 75 million Americans depend on these benefits monthly.
- The increase is based on inflation data from the Bureau of Labor Statistics.
- The average retiree will receive about $56 more each month.
- Medicare Part B premiums are also rising, leaving seniors with a smaller net increase.
- Since 2010, seniors have lost about 20% of their purchasing power due to inflation outpacing COLA adjustments.
- The COLA adjustment will appear in January Social Security checks.
