The Social Security Administration set a 2.8% cost-of-living adjustment for 2026, raising average benefits by about $56 a month starting in January. The increase covers Social Security and SSI for roughly 75 million recipients, though higher prices may blunt its impact. Commissioner Frank J. Bisignano said the COLA helps ensure benefits reflect today’s economic realities. Actual payments will vary as Medicare Part B premiums are projected to rise 11.6% to $206.50 and some beneficiaries withhold federal taxes. The 2.8% aligns with forecasts and follows COLAs of 3.2% in 2024 and 2.5% this year.

Prepared by Christopher Adams and reviewed by editorial team.