10/14/2026
IMPORTANT UPDATE: Social Security Benefits Will Increase 3.6% in 2027
The Social Security Administration has announced a 3.6% cost-of-living adjustment (COLA) for 2027, the largest increase in four years.
There is still one important piece of the puzzle we’re waiting on. Medicare Part B premiums and deductibles for 2027 have not yet been announced. Those figures are expected in November, and any increase in Part B premiums could offset some of the Social Security increase.
This is also a good reminder that Medicare’s Annual Enrollment Period begins October 15 and runs through December 7.
If you’re on Medicare, now is the time to sit down with a knowledgeable, licensed Medicare professional and review your coverage for next year.
Premiums, prescription drug costs, provider networks, and plan benefits can change significantly from one year to the next. A plan that worked well for you in 2026 may not be your best option in 2027.
The objective should always be to find the coverage that meets your healthcare needs at the lowest overall cost, not simply the plan with the lowest monthly premium.
Even if you have no intention of changing plans, an annual review is worth your time. You may find opportunities to save money, improve your coverage, or avoid an unexpected expense next year.
Source: Social Security Administration
https://www.ssa.gov/cola/