Quick answer
Social Security benefits rise 3.6% in 2027. The average retired worker gets about $75 more a month starting in January, and SSI recipients see the increase on December 31, 2026. Part of the raise may go back to Medicare: the 2027 Part B premium hasn’t been announced yet, but the Medicare Trustees project $209.50 a month, up $6.60 from $202.90.
2027 Social Security and Medicare numbers
| Item | 2027 |
|---|---|
| Cost-of-living adjustment (COLA) | 3.6% |
| Average retired worker increase | About $75 a month |
| People affected | About 76 million (72 million Social Security, 7.3 million SSI) |
| First payment with the increase | January 2027 (SSI: December 31, 2026) |
| Part B standard premium | Projected $209.50 (official figure due in November) |
| Medicare Open Enrollment | October 15 to December 7, 2026 |
Last reviewed October 26, 2026 by Greg Wilson. Sources: Social Security Administration, 2026 Medicare Trustees Report via Kiplinger.
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Social Security announced on October 14 that benefits will rise 3.6% in 2027, the largest increase since 2023. A day later, Medicare Open Enrollment opened. One of these happens automatically. The other only helps you if you act before December 7.
What the 2027 COLA is
The cost-of-living adjustment isn’t a raise. It keeps benefits from losing buying power as prices rise. By law it’s set by a formula: the average Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for July through September, compared with the same months a year earlier. For context, the COLA was 2.8% for 2026, 2.5% for 2025 and 3.2% for 2024.
What it means in dollars
The increase is automatic and applies to retirement, survivor, disability and SSI benefits. It reaches about 76 million people. Social Security payments with the increase begin in January 2027, and SSI recipients see it in their December 31, 2026 payment.
| Monthly benefit now | Increase at 3.6% | New monthly benefit |
|---|---|---|
| $1,500 | +$54.00 | $1,554.00 |
| $2,000 | +$72.00 | $2,072.00 |
| $2,500 | +$90.00 | $2,590.00 |
| $3,000 | +$108.00 | $3,108.00 |
Social Security says the average retired worker will get about $75 more a month.
The catch: Medicare takes its share first
The COLA is a gross figure. If your Medicare Part B premium is deducted from your Social Security check, part of the raise goes straight back to Medicare.
The standard Part B premium is $202.90 a month in 2026. CMS usually announces the next year’s amount in November. The 2026 Medicare Trustees Report projects $209.50 for 2027, up $6.60. If that holds, about $6.60 of a $75 raise would go to the premium before the money reaches your bank account.
A rule called “hold harmless” protects most people: it generally keeps your Part B premium increase from being larger than your Social Security increase, so your net check shouldn’t go down. It doesn’t apply to higher earners who pay income-related surcharges or to people who don’t have the premium deducted from their benefit.
When you’ll see your new amount
Your COLA notice will be viewable in your my Social Security account starting in late November. To see it online before the mailed notice, create an account by November 18. People who aren’t signed up for online notices get a letter in December.
Medicare Open Enrollment: the part that’s up to you
Unlike the COLA, nothing changes during Open Enrollment unless you act. Through December 7, 2026, you can:
- Switch from Original Medicare to a Medicare Advantage plan, or back
- Change from one Medicare Advantage plan to another
- Join, change or drop a Part D drug plan
Changes take effect January 1, 2027. This year it matters more than usual: many people without Extra Help face higher stand-alone Part D premiums (see Your Part D premium could jump 50% in 2027), and plan choices are shrinking in many areas.
What to do now
- Create your my Social Security account by November 18 to see your exact new benefit online in late November. Nothing else is needed for the COLA.
- Review your Medicare plan now, not in December. Check your Annual Notice of Change and compare plans with your own drugs and doctors.
- Watch for the official Part B premium in November. It decides how much of your raise you keep.
- Get free help if you want it from your State Health Insurance Assistance Program at shiphelp.org.
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Open the Medicare Plan FinderRelated: Medicare costs in 2027 · SeniorAffair Retirement Money Guide · Medicare Guide
This article is general information, not insurance or financial advice. Confirm benefit amounts with Social Security at ssa.gov or 1-800-772-1213, and plan details in the Medicare Plan Finder at Medicare.gov or by calling 1-800-MEDICARE (1-800-633-4227). For free one-on-one help, contact your State Health Insurance Assistance Program (SHIP) at shiphelp.org.
Part of our Medicare Guide. Costs, enrollment deadlines, Medicare Advantage vs. Medigap, Part D and what Medicare covers, all in one place. See the full guide →
