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Social Security Sets 2.8% COLA for 2026 as Average Checks Rise About $56

Higher Medicare premiums will absorb much of the increase for many beneficiaries.

Overview

  • The adjustment takes effect with January 2026 payments, with individualized notices scheduled to arrive in December.
  • Medicare trustees project the standard Part B premium to reach about $206.50 in 2026, reducing the net benefit many retirees see.
  • Anyone age 62 or older by the end of 2025 receives a bump in current or potential benefits, and maximum possible payments at ages 62, 67, and 70 will adjust upward.
  • The formula uses the CPI-W inflation index, and some lawmakers are pushing to switch to CPI-E, though analysts find it would have raised benefits only modestly over time.
  • Long‑term pressures persist as projections show the retirement trust fund could be depleted in the early 2030s without policy changes.