The 2027 Social Security COLA Is Supposed to Boost the Average Check by $73 Per Month. Here's Why Many Beneficiaries Will Get Less.

The Social Security Administration will announce the 2027 cost-of-living adjustment (COLA) on the morning of Oct. 14, 2026. It's expected to be around 3.5%, according to the latest estimates from The Senior Citizens League (TSCL).

This would add roughly $73 to the $2,088 average monthly retirement benefit as of August 2026. That might be less than what you were hoping for, but it might be more than you actually receive, especially if you're on Medicare.

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The $73 increase is only an average

A $73 average monthly increase means those whose current checks are below the average will see smaller benefit boosts. However, that also means if you're currently receiving a benefit larger than the $2,088 average, you may see a bigger increase.

If you want a rough idea of how much this could add to your benefit in 2027, add 3.5% to your existing checks. Just bear in mind that the actual Social Security COLA may come in slightly higher or lower than this, depending on where the September inflation data comes in.

Medicare beneficiaries may get less than they expected

Seniors on Medicare typically have their Part B premiums withheld from their benefit checks upfront. These premiums will also increase next year, which will eat up at least some of your COLA.

We don't know exactly how much these costs will rise, but we should find out within the next few weeks. Once we do, you'll be able to factor these costs into your 2027 budget. Make sure you understand how far your checks will go next year so you can plan how you'll cover the rest.

The good news is, the Medicare Part B premium increase won't leave you worse off than you are now. Medicare has a hold harmless provision that prevents the Part B premium increase from exceeding your COLA, so in the worst-case scenario, your checks will remain the same as they are now.

You should get a personalized COLA notice from the Social Security Administration in early December. This will tell you your exact benefit amount for next year, including Medicare Part B premium withholding.

If you have any questions about how the 2027 COLA will affect your checks, save them until this notice arrives. Then, you can call the Social Security Administration directly or schedule an appointment at your local Social Security office to discuss your specific situation.

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