What's changing with Social Security in 2026 — from COLA raises to Medicare costs

• Social Security benefits volition summation by astir $60 successful 2026 owed to a 2.8% cost-of-living adjustment.

• Eligibility rules and payment amounts beryllium connected Americans' age, income, and enactment history.

• Seniors tin expect much taxation alleviation and higher Medicare premiums successful 2026.

For millions of older Americans, Social Security is simply a fiscal lifeline.

The programme is the country's largest societal information nett program, providing monthly payments to astir 74 cardinal people. Business Insider has heard from hundreds of seniors surviving cheque to cheque without status savings and 80-somethings moving to supplement their Social Security income.

Here's what you request to cognize astir benefits heading into the caller year.

Do you person a communicative to stock astir Social Security oregon different information nett programs? Reach retired to this newsman astatine [email protected] oregon via Signal astatine alliekelly.10

Americans wage into Social Security passim their careers. The programme is mostly funded by payroll taxes, and each individual's monthly checks are based connected the income they made during their moving years. Qualification rules volition stay unchanged successful January.

Older adults indispensable beryllium astatine slightest 62 years aged to enroll successful the programme — but those who enroll earlier afloat status property typically person smaller checks and whitethorn acquisition payment deductions if they're inactive employed.

The nationalist status property is 66 oregon 67 for astir babe boomers, which is the property that beneficiaries tin cod their afloat Social Security amount. And those who hold filing for benefits until property 70 volition person the highest monthly allotment.

Depending connected income and filing age, Social Security beneficiaries typically instrumentality location betwixt $800 and $3,000 a month. Widows and widowers tin assertion benefits based connected their spouses' income.

The Social Security Administration besides offers benefits for low-income Americans and those with disabilities astatine immoderate age. Supplemental Social Security is mostly disposable for individuals earning little than $2,000 a month, astir 130% of the national poorness line. Social Security Disability provides monthly payments to radical experiencing astatine slightest 1 twelvemonth of disablement that affects their quality to work.

Social Security beneficiaries volition person astir $60 much monthly successful 2026, acknowledgment to the program's yearly cost-of-living adjustment. That 2.8% summation is based connected third-quarter ostentation data.

The latest COLA announcement, tied to year-over-year increases successful the user terms index, mirrors the past respective years. Raise percentages skyrocketed during precocious pandemic-era inflation, but person hovered astir 2% and 3% since 2023.