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yesterday

Modest 2026 Social Security COLA Fails to Offset Rising Costs, Prompting Reform Demands

A projected 2.5% benefit boost equates to a net monthly gain of about $28.50 after higher Medicare premiums, driving seniors to seek a switch to a formula based on the CPI-E.

An illustration related to the view that wealth and consumer driven economics are at the heart of the United States.
Challenging Retirement Situation
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Social Security COLA For 2026 And Beyond

Overview

  • Social Security Administration projects a 2.5% cost-of-living adjustment for 2026, raising the average monthly benefit by roughly $50.
  • A Medicare Part B premium increase of at least $21.50 next year will cut the net benefit boost to about $28.50 per month, leaving take-home gains around 1.4%.
  • More than 69 million Americans receive Social Security benefits, and 63% of surveyed retirees report dissatisfaction with their checks while nearly 73% rely on them for over half their income.
  • On average, Social Security covers just over 30% of retirees’ spending, with coverage peaking at 34.6% in McAllen, Texas and falling to 24.3% in San Francisco, California.
  • A Senior Citizens League survey finds 34% of seniors rank formula reform as their top priority, 68% support replacing CPI-W with the CPI-E, and 57% back a one-time catch-up adjustment to offset past shortfalls.