75 million Americans will see a 2.8% increase in their Social Security benefits and SSI payments in 2026.
Jack Myers with Social Security indicates on average, Social Security retirement benefits will increase by about $56 per month starting in January. Increases will be effective with payments that will be received in January - December 31st for SSI, since January 1st is a holiday.
Since 1975, the Social Security COLA has been automatically tied to inflation. Myers explains that Federal benefit rates increase when the cost-of-living rises. The measurement of cost of living comes from the Department of Labor’s Consumer Price Index for Urban and Clerical Wage Earners, CPIW. The CPI-W is a measure of inflation, so if goods and services get more expensive, the CPI-W rises.
When the Social Security COLA is announced, people often wonder about the Medicare Part B premium since it is deducted from the Social Security payment. According to Myers, Medicare announced that the standard Part B premium will be $202.90 in 2026 (up from $185.00 in 2025). www.medicare.gov
To learn more about the 2026 COLA, visit www.ssa.gov/cola.
