Social Security COLA 2027: There’s a way to find out your exact benefits increase early
Social Security recipients are on track for a 3.6% increase in 2027. The cost of living adjustment (COLA) will equal an additional $75 a month for the average retired worker and an additional $59 a month for disability and survivor beneficiaries.
There’s a way to find out exactly what that increase will mean to you, but there’s a deadline to meet.
Beneficiaries who have a “my Social Security Account” and are enrolled in paperless notices will get their 2027 COLA notice online in late November, up to three weeks before paper notices arrive by mail. To get the information online, you will need to set up your “my Social Security Account” enroll for paperless notices by Nov. 18.
You can go here to see more on setting up your account.
Nearly 72 million Social Security beneficiaries will see the increase in January 2027. Increased payments to about 7.3 million people receiving SSI will begin on Dec. 31 since the normal payment date – Jan. 1, 2027 – is a federal holiday.
The purpose of the COLA is to ensure the purchasing power of Social Security and Supplemental Security Income (SSI) is not eroded by inflation, which has remained elevated throughout 2026. Congress enacted the COLA provision as part of the 1972 Social Security Amendments, and automatic changes began in 1975. Before that, benefits were increased only when Congress enacted special legislation.
Medicare costs
A portion of the Social Security increase will be lost to rising Medicare costs though just how much remains to be seen. Medicare increases will be announced later in November.
The latest Medicare Trustees Report projects the standard Part B premium at $209.50 for 2027, a $6.60 monthly increase from the current $202.90. Part B premiums are deducted directly from Social Security checks, reducing the amount of monthly benefits.
The annual Part B deductible is projected to increase from $283 to about $292.
Costs related to Medicare Part D prescription drug coverage are also expected to increase. Standard deductions are projected to rise to $700, up from $615, with out-of-pocket limits increasing from $2,100 to $2,400.