Social Security beneficiaries will receive a 2.8 percent bump in benefits in 2026, but don’t get too excited over the cost-of-living adjustment (COLA). Health care costs are expected to eat up that extra money.
Starting in January, retirees receiving the average benefit amount will receive an additional $56 each month. Albeit small, every dollar counts these days as we see price increases every time we go shopping.
However, a Social Security analyst told U.S. News & World Report that most recipients won’t feel the benefit boost because of Medicare premium and deductible increases.
In 2026, Medicare Part B premiums are expected to increase by close to $20 per month. Increases will be even more substantial for seniors who purchase their own health care coverage. Deductibles are also increasing. According to the article, “For Medicare Part A, the deductible for the first 60 days of inpatient hospital care is rising $60 in 2026, from $1,676 to $1,736. The deductible for Medicare Part B, which pays for outpatient care, will rise $26 from $257 to $283.”
Council of Seniors Wants Congress to Give Retirees More Money
It’s clear that the COLA is not enough to help struggling seniors. All of us here at the Council of Seniors are working hard to get Congress to passThe SAVE Benefits Act. This crucial bill will put $581 back in seniors’ pockets to make up for Social Security cost-of-living adjustments that were far too low for years.
Greedy Washington politicians are using retirees’ hard-earned money in other ways, but we’re dedicated to giving it back to those who are rightfully entitled to it.
Please take a moment and sign our petition today to show your support.