Social Security benefits and Supplemental Security Income (SSI) payments for Americans will increase 2.8 percent in 2026. On average, Social Security retirement benefits will increase by about $56 per month starting in January.
Over the last decade the cost-of-living adjustment (COLA) increase has averaged about 3.1 percent. The COLA was 2.5 percent in 2025.
Nearly 71 million Social Security beneficiaries will see a COLA beginning in January 2026. Increased payments to nearly 7.5 million people receiving SSI will begin on December 31, 2025. (Some recipients receive both Social Security benefits and SSI).
Social Security begins notifying recipients about their new benefit amount by mail starting in early December. Those who have a personal my Social Security account can view their COLA notice online before receiving a letter in the mail.
Medicare Part B premiums and deductibles are also rising. Medicare Part B covers physicians’ services, outpatient hospital services, certain home health services, durable medical equipment and certain other medical and health services not covered by Medicare Part A.
Each year, the Medicare Part B premium, deductible and coinsurance rates are determined according to provisions of the Social Security Act. The standard monthly premium for Medicare Part B enrollees will be $202.90 for 2026, an increase of $17.90 from $185 in 2025. The annual deductible for all Medicare Part B beneficiaries will be $283 in 2026, an increase of $26 from the annual deductible of $257 in 2025.
The increase in the 2026 Part B standard premium and deductible is mainly due to projected price changes and assumed utilization increases.
Sources: Social Security Administration, medicare.gov.
